The ringgit opened lower against the US dollar but is anticipated to rebound today, supported by an announcement expected from China on a strong economic boost.
At 9.01 am, the ringgit stood at 4.7590/7625 against the greenback compared to yesterday’s closing rate of 4.7570/7620.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the Chinese government is likely to reveal a forceful economic stimulus amid criticism that the government is not doing enough to bolster investor confidence. – Bernama
