kuala lumpur: The ringgit took a breather from yesterday’s rally and opened this morning almost flat against the US dollar.
At 9:05 am, the local currency was trading at 4.4295/4365 against the dollar compared to 4.4250/4300 at Monday’s close.
A dealer said ringgit support remains positive as Prime Minister Datuk Seri Anwar Ibrahim plans to submit a special allocation or mini-budget for 2023 containing a total of RM107.72 billion today at Dewan Rakyat. said.
According to the order document, Anwar, who is also the Minister of Finance, will submit provisions under the Consolidated Fund (Expenditure Account) Act 2022, which will come into force on 1 January 2023.
“Positive sentiment driven not only by solid oil prices but also by strong economic forecasts against the backdrop of strong exports and Malaysia’s trade surplus will continue to support the ringgit,” he said.
Investors turn their attention to key US data this week, with the release of the December Conference Board Consumer Confidence Index, Personal Consumption Expenditure Price Index and early unemployment claims for the week of December 17, followed by Malaysia. , Singapore and Japan will release inflation rates. China will also announce its loan prime rate for December.
Meanwhile, the ringgit traded mostly high against a basket of major currencies.
The local currency fell slightly against the Singapore dollar to close Monday at 3.2633/2674 to 3.2644/2701.
However, it rose yesterday against the British pound to 5.3792/3877 from 5.4043/4104, against the Japanese yen to 3.2257/2312 from 3.2515/2554 previously, and against the euro from 4.7016/7069 to 4.6962/7036. rose to . – Bernama