Ringgit unchanged at opening

KUALA LUMPUR: The ringgit opened flat against the US dollar on lack of catalysts.

At 9.22am, the ringgit was unchanged at Wednesday’s close of 4.1750/1800 against the greenback.

A dealer said the ringgit and other Asian currencies were likely to trade on a tight band ahead of the US Federal Reserve chairman Jerome Powell’s speech at Jackson Hole tomorrow on the back of expectations of a further interest rate cut.

The ringgit rose against the euro to 4.6284/6344 against Wednesday’s close at 4.6317/6377 but almost flat against the British pound at 5.0634/0712 from 5.0634/0703 yesterday.

The domestic units strengthened against the yen to 3.9176/9234 from 3.9202/9264 and increased against the Singapore dollar to 3.0173/0213 from 3.0186/0226. - Bernama