Ringgit opens unchanged against US dollar

KUALA LUMPUR: The ringgit opened unchanged against the US dollar today as investors remained on the sidelines ahead of the US Federal Reserve’s (Fed) decision on raising interest rates after its two-day meeting which will end today.

At 9 am, the local currency was flat at 4.4480/4530 against the greenback from Tuesday’s close of 4.4480/4510.

A dealer said investors have been cautiously awaiting the decision, prompting the greenback to strengthen against other currencies.

On the local front, except against the euro, the ringgit was traded mostly lower against a basket of major currencies.

The local note shed against the Singapore dollar to 3.1421/1461 from 3.1415/1456 on Tuesday and vis-a-vis the yen, it fell to 3.8756/8803 from 3.8638/8674 yesterday. It weakened against the British pound to 5.4092/4157 from 5.3928/3973 on Tuesday but advanced to 4.7216/7273 from 4.7322/7368 yesterday. –BERNAMA



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