Ringgit expected to trade range-bound vs US dollar next week ahead of BNM’s OPR decision

KUALA LUMPUR, Oct 31 — The ringgit is expected to trade within a narrow range against the US dollar next week as investors turn their attention to Bank Negara Malaysia’s (BNM) Overnight Policy Rate (OPR) decision on November 5.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said a potential OPR hike next week could provide support for the ringgit, as BNM may consider normalising the policy rate in view of the country’s stronger-than-expected economic growth trajectory.

“Perhaps, the dollar-ringgit would range between RM4.05 to RM4.07 next week,” it said.

Meanwhile, Kenanga Investment Bank Bhd said any escalation in the West Asia crisis could push oil prices and the US Treasury (UST) term premium higher, reversing the 10-year yield’s decline below 5.00 per cent and reviving demand for the US dollar.

“Expect investors to stay defensive through the vote, leaving ringgit’s gains exposed.

“We see ringgit volatile within the RM4.04-RM4.08 range next week, with our RM4.00 year-end target still within reach,” it said in a research note.

Meanwhile, on a Friday-to-Friday basis, the ringgit surged against the greenback to 4.0555/0600 from 4.0835/0875 a week earlier.

The local currency traded higher against a basket of other major currencies during the week.

It rose vis-a-vis the Japanese yen to 2.5782/5812 from 2.6076/6103 on the previous Friday and appreciated against the British pound to 5.4461/4522 from 5.4633/4687, and gained versus the euro to 4.5413/5464 from 4.5735/5780 a week earlier.

The ringgit traded mostly higher against Asean currencies.

It advanced versus the Singapore dollar to 3.1753/1791 from 3.1952/1986 a week earlier, and inched up against the Indonesian rupiah to 223.4/223.8 from 225.8/226.1.

The local note also climbed vis-a-vis the Thai baht to 12.0373/0561 from 12.0985/1154 at the end of last week, and it went up against the Philippine peso to 6.36/6.37 from 6.42/6.43 previously. — Bernama

World’s biggest crypto heist: FBI says North Korean hackers stole US$6b from Binance

Hackers steal US$6.3b, Binance foots the bill — and says it’s 90pc there

Bursa Malaysia seen consolidating next week within 1,600-1,630 range as market consolidates

'We cannot just sit in the office': AGC not confined to legal matters, actively engages with community, says AG

Not sidelined: Sabah, Sarawak rural road allocation nearly triples to RM11b for 2023–2027, says Tengku Zafrul

Police detain 17 after viral clip alleges brawl at Ampang flats

吉隆坡，10月31日讯——预计下周令吉兑美元汇率将在窄幅区间内波动，投资者将注意力转向马来西亚国家银行（BNM）将于11月5日公布的隔夜政策利率（OPR）决定。

马来西亚伊斯兰银行首席经济学家莫哈末·阿夫扎尼扎姆·阿卜杜勒·拉希德博士表示，下周隔夜政策利率可能上调，这将对令吉构成支撑，因为鉴于该国经济增长势头强于预期，马来西亚国家银行可能会考虑将政策利率正常化。

“下周美元兑令吉汇率可能在 4.05 至 4.07 令吉之间，”报告称。

与此同时，肯纳格投资银行表示，西亚危机的任何升级都可能推高油价和美国国债期限溢价，从而扭转 10 年期国债收益率跌破 5.00% 的局面，并提振对美元的需求。

“预计投资者在投票期间将保持防御姿态，令吉的涨幅将面临风险。

“我们预计下周令吉汇率将在 4.04 至 4.08 令吉区间波动，但我们年底 4.00 令吉的目标仍然有望实现，”该机构在一份研究报告中表示。

与此同时，从周五到周五，令吉兑美元汇率从一周前的 4.0835/0875 飙升至 4.0555/0600。

本周，当地货币兑一篮子主要货币走强。

上周五，该货币对日元上涨至 2.5782/5812，为 2.6076/6103；对英镑上涨至 5.4461/4522，为 5.4633/4687；对欧元上涨至 4.5413/5464，为一周前的 4.5735/5780。

令吉兑东盟货币大多走强。

兑新加坡元汇率从一周前的 3.1952/1986 升至 3.1753/1791，兑印尼盾汇率从 225.8/226.1 小幅上涨至 223.4/223.8。

马来西亚国家通讯社（Bernama）报道，马来西亚本币兑泰铢汇率从上周末的12.0985/1154升至12.0373/0561，兑菲律宾比索汇率也从之前的6.42/6.43升至6.36/6.37。

全球最大加密货币盗窃案：FBI称朝鲜黑客从币安窃取了60亿美元

黑客窃取63亿美元，币安承担损失——并称已追回90%。

预计下周马来西亚交易所指数将在1600-1630点区间内盘整。

“我们不能只是待在办公室里”：总检察长表示，总检察长的工作不仅限于法律事务，还积极参与社区活动。

没有被边缘化：Tengku Zafrul 表示，2023 年至 2027 年，沙巴和砂拉越农村道路拨款几乎增加两倍，达到 11 亿令吉

警方拘留17人，此前一段疯传的视频显示安邦组屋发生斗殴事件。