KUALA LUMPUR, May 18 — The ringgit opened slightly higher against the US dollar on Monday although cautious sentiment persisted amid escalating geopolitical tensions in West Asia.
At 8am, the local unit rose to 3.9495/9605 against the greenback from yesterday’s close of 3.9515/9580.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said market sentiment remained cautious as the prolonged stalemate between the US and Iran continued to raise concerns over a wider conflict in the region.
