At 9.03 am, the ringgit was pegged at 4.4275/4320 versus the US dollar.
At 9.03 am, the local note was pegged at 4.4275/4320 versus the greenback from Tuesday’s closing rate of 4.4315/4360.
However, Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid expects the ringgit to stay soft as the US dollar/ringgit pair was already in the overbought position from the technical perspective."Meanwhile, China’s higher-than-expected gross domestic product in the first quarter of 2023 at 4.
However, it had eased to 7.90/7.91 against the Philippines’ peso from Tuesday’s close of 7.89/7.90 and depreciated against the Thai baht to 12.9285/9477 from 12.9228/9416 previously. - Bernama
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