Ringgit opens flat amid rising greenback demand

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The story "Ringgit opens flat amid rising greenback demand" was covered 19 hours ago by The Star, a news publisher based in Malaysia.

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The Star 19h ago

Ringgit opens flat amid rising greenback demand - The Star

Quick Summary:

KUALA LUMPUR: The ringgit opened flat against the US dollar but rose versus other major currencies amid rising greenback demand, following the release of key United States (US) economic data yesterday, said an analyst.

Many countries in the region rely on US dollar-denominated debt to finance their budgets, and the escalation in long-term US yields-where much of this funding is sourced-poses a significant threat.

Conversely, the ringgit remained unchanged against the Indonesian rupiah and the Philippines’ peso at 277.7/278.2 and 7.71/7.72, respectively.