Kuala Lumpur: The ringgit opened marginally higher against the US dollar as sentiment remains cautious ahead of the US Federal Reserve (Fed) meeting later this week, an economist said.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the ringgit is expected to stay soft versus the greenback this week as markets await the outcome of the Federal Open Market Committee meeting on Sept 19-20.The meeting will decide on the US interest rate’s movement. He said consensus estimates pointed to the federal funds rate staying put at 5.5% for this meeting.
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