Ringgit to trade around current level this week at RM4.40, OPR in focus

KUALA LUMPUR, July 3 (Bernama): The ringgit is likely to trade around the current level of between 4.40 and 4.41 versus the US dollar this week, with all eyes on Bank Negara Malaysia’s (BNM) Monetary Policy Committee meeting on July 6.

Bank Islam Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid told Bernama that BNM might want to increase the overnight policy rate (OPR) in light of the Consumer Price Index outturn which came in at 2.8 per cent in May.