Ringgit moves higher against US$ as central banks take caution over rate hikes

KUALA LUMPUR: The ringgit improved marginally against the US dollar at the opening today as major central banks are being more cautious in their monetary tightening strategy in light of the concern in the banking sector, said an analyst.

At 9 am, the local note rose slightly to 4.4950/4990 versus the greenback from yesterday’s closing rate of 4.5005/5055.