Ringgit edges up ahead of US CPI data release
Malaysia’s currency closed slightly stronger against the dollar on Friday as traders remained cautious ahead of American consumer price data. The ringgit settled at 4.2210 per dollar at 6 p.m., up from Thursday’s 4.2250 rate. Bank Muamalat Malaysia chief economist Mohd Afzanizam Abdul Rashid said markets anticipated higher inflation figures that could influence Federal Reserve policy decisions at the Oct. 28-29 meeting.
The dollar index climbed to 99.06 points on expectations of persistent price pressures in the American economy. The Washington government shutdown has restricted access to economic information ahead of the policy meeting. The local currency gained ground against the Japanese yen to 2.7592 and the British pound to 5.6232 but weakened against the euro to 4.9010.
The ringgit strengthened against most regional currencies at the close. It strengthened to 3.2484 versus the Singapore dollar and 7.20 against the Philippine peso. The currency also rose to 12.8768 per Thai baht but declined to 254.2 against the Indonesian rupiah.
