KUALA LUMPUR: The ringgit was one of the best-performing currencies globally in the third quarter of 2024 (3Q2024), strengthening 14.4% against the US dollar and 11.4% on a year-to-date basis, said Bank Negara Malaysia’s (BNM) Financial Markets Committee (FMC). The local currency opened firmer at 4.2845/2950 and continued its upward momentum to finish at 4.2800/2830…
KUALA LUMPUR: The World Bank Group has upgraded Malaysia’s economic growth forecast to 4.9 per cent in 2024, an increase of 14 per cent from its initial 4.3 per cent forecast set in April, according to Apurva Sanghi, its lead economist for Malaysia, He said both domestic and external factors back the upgraded growth forecast…
KUALA LUMPUR: The ringgit opened higher against the US dollar this morning, supported by the firmer Brent crude oil prices which surpassed US$80 per barrel, said an analyst. At 8 am, the local note rose to 4.2590/2865 versus the greenback, from Monday’s close of 4.2810/2880. However, Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam…
KUALA LUMPUR: Foreign investors continued to dispose of equities on Bursa Malaysia last week, with net selling at an 18-week high of RM1.10 billion, according to MIDF Amanah Investment Bank Bhd (MIDF). In its fund flow report for the week ended Oct 4, 2024, MIDF said foreign investors net sold every day and have been…
KUALA LUMPUR: The ringgit opened marginally higher on Monday amid weak sentiment as traders reassessed their stance on the United States Federal Reserve (US Fed) possibly taking more time to reduce interest rates, an economist said. At 8 am, the local note stood at 4.2150/2240 against the US dollar compared to last Friday’s close of…
