Ringgit up marginally against US dollar in early trade

KUALA LUMPUR: The ringgit opened marginally higher against the US dollar in early trade on Monday with the market anticipating that the local currency will remain soft as investors await the Federal Open Market Committee’s quarterly economic projection for 2025.

At 8.02 am, the ringgit stood at 4.4470/4530 against the US dollar from last Friday’s close of 4.4475/4525.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the focus for the week would be on the two-day FOMC meeting which begins tomorrow.