KUALA LUMPUR: The ringgit extended its gains against the US dollar and other major currencies yesterday, closing firmer following Bank Negara Malaysia’s (BNM) decision to maintain the overnight policy rate (OPR) at 2.75%.
The decision was made during the central bank’s final Monetary Policy Committee meeting of the year yesterday.
At 6pm, the local note rose to 4.0445/0490 versus the greenback from Wednesday’s close of 4.0610/0660.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the decision to keep the OPR unchanged at 2.75% was in line with estimates.
He said BNM is seen to be positive about the current state of the economy, with the 2026 gross domestic product growth expected to settle above 5%.
“At the same time, the balance of risks are seen to be stable although concerns on higher inflation going forward warrant a cautious stance.” — Bernama
