KUALA LUMPUR: The ringgit opened higher against the US dollar on Monday, supported by positive domestic sentiment ahead of the Negeri Sembilan state election, an analyst said.
At 8am, the local currency strengthened to 4.0830/4.0930 against the greenback from 4.0885/4.0935 at Friday’s close.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said market participants would be watching how the state election influences national politics, particularly ahead of polling in Negeri Sembilan.
Early voting for the Negeri Sembilan state election will take place on Tuesday (July 28), with polling scheduled for Aug 1.
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