Ringgit opens lower v dollar
The local note falls to 4.5590/5620 against the greenback at opening today compared with 4.5400/5450 at yesterday’s close. – The Malaysian Insight file pic, August 3, 2023.
At 9.06am, the local note decreased to 4.5590/5620 against the greenback compared with 4.5400/5450 at Wednesday’s close. “Despite Fitch Rating downgrading the US sovereign rating by one notch, from AAA to AA+ on Tuesday, the change in credit rating has not yet impacted the value of the US dollar, although the credit risks associated with the country have increased,” he told Bernama.
“This situation might prompt the Federal Reserve to adopt a more cautious monetary stance, potentially leading to a halt in interest rate hike,” he said.
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