KUALA LUMPUR: The ringgit extended its gains yesterday, closing firmer against major currencies and most regional peers following Bank Negara Malaysia’s (BNM) move to maintain the overnight policy rate (OPR) at 2.75%.
The central bank, in a statement issued after its Monetary Policy Committee meeting, said that at the current OPR level, the monetary policy stance is appropriate and consistent with the outlook for continued price stability and sustainable economic growth.
At 6pm, the ringgit also rose against the US dollar to 3.9070/9115 from 3.9230/9275 at Wednesday’s close.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid told Bernama BNM’s decision to keep the OPR unchanged had been mostly anticipated by economists.
