Ringgit opens higher against major currencies, lower vs US dollar
KUALA LUMPUR: The ringgit opened mostly higher against major currencies but was slightly lower against the US dollar, with geopolitical uncertainties supporting demand for the greenback.
At 8am, the ringgit eased to 4.0725/0780 versus the greenback from Friday's close of 4.0715/0765.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam said geopolitical risk will continue to shape market sentiment as the United States has rejected Iran's plan to reopen the Strait of Hormuz.
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