Ringgit unchanged at opening

 Publish date: Tue, 30 Jun 2020, 10:29 AM

KUALA LUMPUR: The ringgit opened unchanged on Tuesday amid mixed market sentiment.
At 9.05am, the ringgit remained at 4.2820/2880 against the greenback.
AxiCorp global chief market strategist Stephen Innes said the market will refocus on the regional cyclical economic upswings and higher oil prices, which should be favourable for the ringgit.
"The oil prices and stocks are trading higher as I expected but the rating agency downgrade was a bit of a sideswipe although not fully unexpected," he told Bernama.
On June 26, S&P Global Ratings reaffirmed Malaysia's A- credit rating, but revised its outlook from "stable" to "negative".
"The rating warning is not that hugely negative for a currency, but in the case for Malaysia it will bring more focus on on the budget deficit and the poor shape the government coffers are in," he added.
Against other benchmark currencies, the ringgit was traded higher.
The local note appreciated vis-a-vis the British pound to 5.2673/2751 from 5.2788/2880 on Monday and rose versus the Singapore dollar to 3.0717/0778 from 3.0746/0800.
It also strengthened against the euro to 4.8125/8210 from 4.8254/8339 and was stronger against the Japanese yen at 3.9755/9818 versus 3.9933/4.0000 previously.
 - Bernama
Share this

  Be the first to like this.

I3 Messenger
Individual or Group chat with anyone on I3investor
MQ Trader
View Trading Signals and run Live Backtest
MQ Affiliate
Earn rewards with MQ Affiliate Program

459  476  551  467 

Top 10 Active Counters
 PDZ 0.205+0.015 
 DNEX 0.25+0.035 
 DNEX-WD 0.04+0.02 
 TRIVE 0.01-0.005 
 PHB-WB 0.010.00 
 VSOLAR 0.055-0.015 
 DGB 0.045-0.005 
 AT 0.09-0.005 
 IRIS 0.28+0.005 
 PDZ-WB 0.05+0.005 


1. MQ Trader - Introduction to MQ Trader Affiliate Program MQ Trader Announcement!
2. MQ Affiliate – A smarter way to earn more rewards MQ Trader Affiliate Program
3. MQ Affiliate – How to become an effective affiliate MQ Trader Affiliate Program
4. MQ Affiliate – Upgrading to Affiliate Partner MQ Trader Affiliate Program
Partners & Brokers