Ringgit rises against US dollar ahead of Negeri Sembilan polls

KUALA LUMPUR : The ringgit opened higher against the US dollar on Monday, supported by positive domestic sentiment ahead of the Negeri Sembilan state election, although caution ahead of the US Federal Open Market Committee (FOMC) meeting capped gains. At 8am, the local currency strengthened to 4.0830/4.0930 against the greenback from 4.0885/4.0935 at Friday’s close.

Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said market participants would be watching whether the Negeri Sembilan state election influences national politics.

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