Ringgit falls on caution over Budget 2022

KUALA LUMPUR: The ringgit depreciated against the greenback at the opening on Monday, with investors waiting on the sidelines ahead of the Budget 2022 tabling on Oct 29, said a dealer.

At 9.01 am, the local unit stood at 4.1505/1540 versus the greenback from 4.1490/1520 last Friday.

He said investors were keeping a close watch on the budget announcement as it would show the course of the new administration.

"The ringgit is expected to trade higher and test the 4.13 level prior to the budget’s release," he told Bernama.

Against a basket of other major currencies, the ringgit was traded mixed.

It improved against the Singapore dollar to 3.0808/0839 from 3.0825/0849 last Friday and rose vis-a-vis the British pound to 5.7173/7221 from 5.7269/7310 previously.

However, the local currency weakened versus the Japanese yen to 3.6507/6541 from 3.6436/6466 at the end of last week and eased against the euro to 4.8333/8373 from 4.8307/8342. - Bernama

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ringgit , Opening , Budget 2022 , Policy direction


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