Malaysian ringgit gains modestly against the dollar ahead of US rate meeting
The ringgit rose slightly versus the US dollar on Tuesday as traders awaited the Federal Open Market Committee gathering on Sept. 15-16.
At 8 a.m. local time, Malaysia's currency traded at 4.0630-4.0730 per dollar, up from Friday's close of 4.0685-4.0725. Market participants said the move reflected cautious sentiment before the upcoming US Federal Open Market Committee session. Afzanizam Rashid, chief economist at Bank Muamalat Malaysia Bhd, added that the Bank of Japan's rate decision on Sept. 18 was also shaping expectations.
Why it matters
The ringgit's shift signals how global central-bank meetings affect emerging-market currencies.
In this story
ringgitUS dollarFOMCinterest rate decisionmarket sentimentcurrencyMalaysiacentral bank
