KUALA LUMPUR, April 8 — The ringgit opened easier against the US dollar on Monday due to continued positive sentiment towards the greenback which was bolstered by US Nonfarm Payroll data that exceeded expectations.
At 9.01 am, the local currency weakened to 4.7500/7555 versus the US dollar from last Friday’s closing of 4.7460/7490.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the US nonfarm payroll came in at 303,000 in March versus 200,000 based on market expectation.
“This certainly bolstered the case for the US Federal Reserve to delay their rate cut decision which would improve the US dollar view in the near term,” he told Bernama.
— Bernama
