Ringgit opens firmer as markets shrug off OPR cut

KUALA LUMPUR: The ringgit opened firmer against the US dollar on Thursday, as markets shrugged off Bank Negara Malaysia’s (BNM) 25-basis-point Overnight Policy Rate (OPR) cut to 2.75 per cent yesterday.

At 8 am, the local note strengthened to 4.2350/2570 against the greenback from Wednesday’s close of 4.2500/2540.