Ringgit rebounds to open higher versus US dollar. The ringgit reversed its losses to open higher against the US dollar on Friday (April 28) due to cautious sentiments following the release of mixed US macroeconomic data, an analyst said.
At 9am, the local note rose to 4.4575/4615 versus the greenback from Thursday’s closing rate of 4.4605/4660.
ActivTrades trader Dyogenes Rodrigues Diniz said the US gross domestic product data for the first quarter of 2023 came in below expectations at 1.1% versus the forecast of 2.0%, which in turn took a toll on the US dollar.
