KUALA LUMPUR: The ringgit opened slightly higher on Tuesday, driven by mild demand for the domestic note and the weaker greenback due to lower US Treasury yields, analysts said.

At 9 am, the ringgit rose to 4.7360/7405 versus the greenback from Monday's close of 4.7380/7405.

Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the US dollar was fairly stable with the US Dollar Index (DXY) falling as low as 104.876 points but later rebounding to 105.194 points.

"This happened despite equity markets continuing to rally on Monday with the US Treasury yields remaining low last night," he told Bernama. - Bernama

https://www.nst.com.my/business/economy/2024/05/1047255/ringgit-opens-higher-against-us-dollar-other-major-currencies