KUALA LUMPUR, April 29 — The ringgit opened easier against the US dollar on Monday as investors remained on the sidelines in anticipation of a number of significant global events and data points, including the upcoming Federal Open Market Committee (FOMC) meeting.
At 9 am, the ringgit eased to 4.7715/7810 against the greenback from Friday’s close of 4.7650/7710.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the FOMC is set to meet on April 30 and May 1, and markets are expecting no change in rates and its tone.
“On that note, the ringgit is likely to stay weak and the US dollar is expected to remain strong relative to other major economies’ currencies,” he told Bernama.
— Bernama
