The ringgit continued to open lower against the US dollar on Wednesday, amid a higher-than-expected US inflation report, which suggested that the US Federal Reserve might keep interest rates steady at current levels.
At 9am, the ringgit had weakened to 4.7820/7880 against the greenback, compared with Tuesday’s close at 4.7600/7665.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the latest development boosted the US dollar index to 104.879 points, rising by 0.68%.
