Ringgit opens lower as investors turns to US dollar

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Ringgit opens lower as investors turns to US dollar
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KUALA LUMPUR: The ringgit opened lower against the US dollar, extending its downtrend from last Friday as investors turned to the safe haven greenback...

: The ringgit opened lower against the US dollar, extending its downtrend from last Friday as investors turned to the safe haven greenback amidst the escalation of the conflict in the Middle East.

Bank Muamalat Malaysia Bhd chief economist and social finance head Dr Mohd Afzanizam Abdul Rashid said the conflict could benefit the safe haven US dollar. “This will be good for the ringgit in the medium term. For now, we expect volatility to persist, driven by the external event,” Mohd Afzanizam told Bernama.

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