KUALA LUMPUR, March 29 — The ringgit weakened against the US dollar at the close of trading today due to some profit-taking given the rapid pace in appreciation of the...
KUALA LUMPUR, March 29 — The ringgit weakened against the US dollar at the close of trading today due to some profit-taking given the rapid pace in appreciation of the local note of late, said an analyst.
Bank Muamalat Malaysia Bhd chief economist and social finance Dr Mohd Afzanizam Abdul Rashid said Bank Negara Malaysia's growth and inflation projection was very much in line with the Finance Ministry's estimates as it unveiled its annual report for 2022 today. “China’s reopening also could boost our economy via tourism related industries. In that sense, I think another 25 basis points hike in Overnight Policy Rate could happen at some point this year,” he told Bernama.
Meanwhile, the ringgit traded lower against a basket of major currencies except versus the Japanese yen where it appreciated to 3.3524/3569 from 3.3606/3642 at Tuesday's closing.
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