Ringgit opens higher ahead of expected OPR hike
KUALA LUMPUR: The ringgit opened higher against the US dollar and major currencies on Thursday ahead of Bank Negara Malaysia's overnight policy rate (OPR) decision, with expectations of an interest rate hike lending support to the local currency.
Bank Negara's Monetary Policy Committee (MPC) is scheduled to hold its sixth and final policy meeting of 2026 today.
At 8am, the ringgit strengthened to 4.0585/0660 against the US dollar from Wednesday's close of 4.0610/0660.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said Bank Negara is expected to raise the OPR by 25 basis points at its final MPC meeting of the year.
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