The local note rises to 4.0430/4.0500 against the greenback following a US-Iran peace deal agreement.The local note rises to 4.0430/4.0500 against the greenback following a US-Iran peace deal agreement.
Improved market sentiment lifts ringgit at opening
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KUALA LUMPUR: The ringgit extended its upward momentum, opening firmer on Monday against the US dollar and other major currencies, supported by improved risk sentiment following signs of easing geopolitical tensions.
At 8am, the local note rose to 4.0430/4.0500 against the greenback from last Friday’s close of 4.0555/4.0600.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said news on the likely reopening of the Strait of Hormuz following the agreement between the United States and Iran on a peace deal to be signed on June 19 has boosted market sentiment.
MORE TO COME
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