BNM's OPR decision keeps ringgit higher against US dollar at opening

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KUALA LUMPUR (May 7): The ringgit opened slightly higher against the US dollar today after Bank Negara Malaysia (BNM) maintained its interest rate at 1.75%, signalling that Malaysia’s economic recovery is on track, dealers said.

At 9am, the local currency had risen to 4.1190/1240 against the greenback from yesterday’s close at 4.1200/1240.

ActiveTrades trader Dyogenes Rodrigues Diniz said the central bank’s decision to leave the interest rate unchanged will help the economy to grow again.

More to come