Ringgit strengthens ahead of stimulus package announcement


KUALA LUMPUR: The ringgit opened higher today against the US dollar on better demand due to investors’ improved risk appetite ahead of the announcement of the government's economic stimulus package later today.

At 9 am, the local note appreciated 100 basis points to 4.2130/2200 against the greenback from 4.2230/2280 on Wednesday. The initiative aimed to stimulate Malaysia’s economy and mitigate any adverse repercussions arising from the COVID-19 outbreak and other external uncertainties.

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