KUALA LUMPUR, April 10 — The ringgit continues yesterday’s upward momentum to trade higher against the US dollar in the early session today on a broadly weaker greenback following the announcement of new facilities by the US Federal Reserve (Fed).
At 9.03 am, the ringgit was quoted at 4.3180/3270 against the US dollar compared with Thursday's close of 4.3320/3380.
Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid said the Fed moves to announce more financial stimulus amounting to US$2.3 trillion suggests the central bank will do whatever it takes to revive the economy especially on the functioning of the credit markets.
— Bernama
