
Ringgit steadies on rate-cut talk ahead of key Bank Negara meet
At 8 am, the local note rose to 4.2060/2320 against the greenback from Friday's close of 4.2180/2260.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the OPR might be reduced by 25 basis points as heightened economic uncertainties could potentially affect the second half's growth momentum.
'So there is a clear justification for BNM to support growth,' Mohd Afzanizam told Bernama.
He also noted that traders will also remain cautious vis-a-vis the greenback as investors and traders await clarity ahead of the United States (US) tariff pause deadline, which is also on July 9.
"All eyes will be on the July 9, 2025 deadline with regards the US tariff which has been paused for 90 days since April 9 this year.
"At the same time, OPEC+ members have agreed to increase their oil production by 548,000 barrels per day in August 2025, suggesting that oil producers are committed to restoring global oil supplies," he said.
In light of the ongoing tariff uncertainty, Mohd Afzanizam said the ringgit is expected to trade cautiously between the RM4.22 and RM4.23 range today.
"The ringgit appreciated by 0.3 per cent week-on-week against the US dollar last week, strengthening to as high as RM4.1980 on July 1," he added.
At the opening, the ringgit was higher against a basket of major currencies.
It firmed against the Japanese yen to 2.9115/9297 from 2.9225/9282, strengthened versus the British pound to 5.7412/7767 from 5.7601/7710, and appreciated against the euro to 4.9542/9849 from 4.9675/9770.
The local note also advanced against most Asean currencies.
It improved vis-à-vis the Singapore dollar to 3.3006/3213 from 3.3114/3182, strengthened against the Thai baht to 12.9823/13.0730 from 13.0302/0609, inched up against the Indonesian rupiah at 259.8/261.5 from 260.6/261.2, and rose against the Philippine peso to 7.45/7.50 from 7.47/7.49 previously. — Bernama
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Malay Mail
4 hours ago
- Malay Mail
DFI Retail Group to Announce 2025 Half-year Financial Results and Host Analyst Presentation Live Webcast
HONG KONG SAR - Media OutReach Newswire - 7 July 2025 - DFI Retail Group Holdings Limited will announce its 2025 half-year Results after market close on 22 July 2025, followed by an analyst presentation live webcast on 23 July 2025. Date: Wednesday, 23 July 2025 Time: 09:30 - 10:30 am (Hong Kong Time) Presented by: Mr. Scott Price, Group Chief Executive and Mr. Tom van der Lee, Group Chief Financial Officer Tuesday, 18 July 2025. Kindly RSVP by completing the form on or before To avoid delays, we encourage participants to log in ten minutes ahead of the scheduled start time. A replay of the presentation will be available via webcast on DFI Retail Group's website Should you have any queries please email us at [email protected] Hashtag: #DFIRetailGroup #Mannings #Guardian #7-Eleven #Wellcome #MarketPlace #ColdStorage #Giant #IKEA #yuu The issuer is solely responsible for the content of this announcement. DFI Retail Group DFI Retail Group (the 'Group') is a leading Asian retailer, driven by its purpose to "Sustainably Serve Asia for Generations with Everyday Moments". The Group is dedicated to delivering quality, value and exceptional service to Asian consumers through a compelling retail experience, supported by an extensive store network and highly efficient supply chains. The Group, including associates and joint ventures, operates a portfolio of well-known brands across five key divisions: health and beauty, convenience, food, home furnishings, and restaurants.


Malay Mail
6 hours ago
- Malay Mail
National Taiwan Normal University Opens Nominations for 15th President
NTNU has announced a call for public nominations for its 15th President. The nomination period runs from July 7 to August 11, 2025. TAIPEI, TAIWAN - Media OutReach Newswire - 7 July 2025 - National Taiwan Normal University (NTNU), one of Taiwan's most prestigious public universities, has announced a call for public nominations for its 15th President. The nomination period runs from July 7 to August 11, Cheng-Chih Wu will conclude his term on February 21, 2026. In line with institutional regulations, the Presidential Selection Committee has been formally convened and is now publicly soliciting nominations from all over a century of academic excellence, NTNU has grown into a comprehensive and internationally recognized university. In the latest QS World University Rankings by Subject, six of its disciplines were ranked among the global top 100— the second highest among Taiwanese universities. The total number of ranked subjects increased from 12 last year to 18, covering education, engineering, management, the humanities, and the basic university is recognized for its diverse and internationalized campus. NTNU recently signed cooperation agreements with renowned institutions such as Columbia University, the University of Texas at Austin, and Osaka University. In November 2023, the Ministry of Education designated NTNU as a Bilingual Benchmark University. With nearly 1,000 English-taught courses offered annually, NTNU currently enrolls 1,722 international degree-seeking students from 64 countries, representing 12.05% of its student body—the highest proportion among Taiwan's national maintains strong partnerships with leading industries and cultural institutions, including TSMC, NVIDIA, Realtek Semiconductor, the National Palace Museum, and Longshan Temple. In 2023, it established the Graduate Institute of AI Interdisciplinary Applied Technology and the Graduate Institute of Green Energy and Sustainable Technology within the newly established College of Industry-Academia Innovation, which celebrated its first graduating class this to pedagogical innovation, NTNU has launched an Interdisciplinary Bachelor's Program and established an Interdisciplinary Academic Advisory Office to encourage students to pursue interdisciplinary, interdepartmental, intercollegiate, and international coursework. In 2024, the university expanded its summer offerings resulting in over 2,600 enrollments across more than 100 courses, which support flexible and self-directed new president will lead NTNU in its ongoing pursuit of academic excellence and global engagement, steering the university toward its strategic vision of becoming a leading institution in Asia with global distinction. Key responsibilities include advancing interdisciplinary integration, expanding international partnerships, and enhancing NTNU's societal its second meeting, the Presidential Selection Committee approved the eligibility criteria and selection procedures. Candidates must meet the appointment requirements outlined in the Act Governing the Appointment of Educators and other applicable laws. Additionally, they must be under 65 years of age as of February 22, 2026, and possess the following qualifications:1. Recognized academic achievements and distinguished reputation2. Exemplary moral character and integrity3. Demonstrated excellence in administrative leadership4. A clear and visionary philosophy for higher education5. Proven ability to secure and effectively manage institutional resourcesNominations may be submitted through one of the following five channels:1. A joint nomination by at least three Academicians of Academia Sinica2. A joint nomination by at least ten professors or scholars of equivalent academic standing at domestic or international institutions3. A nomination by a professional academic organization officially recognized by the Ministry of the Interior4. A joint nomination by at least thirty NTNU alumni5. A nomination by formal resolution of the NTNU Student AssociationThe nomination period will remain open from July 7 to August 11, 2025. Individuals and organizations from all sectors are encouraged to nominate outstanding will be invited to present their vision and engage with the university community at a public forum scheduled for early October 2025. A university-wide recommendation vote will follow in mid-October, with the Presidential Selection Committee making the final decision later that month. The new President will assume office on February 22, detailed information on the nomination process, eligibility criteria, and downloadable forms, please visit the official NTNU Presidential Selection website: Hashtag: #NTNU The issuer is solely responsible for the content of this announcement.


Free Malaysia Today
7 hours ago
- Free Malaysia Today
Najib gave conflicting answers over source of funds, court told
SRC International is suing Najib Razak and former CEO Nik Faisal Ariff Kamil for wrongfully receiving company property, and dishonestly and wrongfully conspiring to convert company property for their own use. KUALA LUMPUR : A lawyer for SRC International Sdn Bhd told the High Court today that former prime minister Najib Razak gave conflicting answers when confronted about the source of money that entered into his accounts more than 10 years ago. Lead counsel Lim Chee Wee said Najib had, in his testimony under oath, given various versions of the source of funds that entered his accounts when cross-examined. Submitting at the close of the SRC International trial, Lim said Najib had, in an affidavit affirmed in 2015, claimed that a 'personal donation' of US$700 million and another sum of RM42 million originating from SRC International had been channelled into his account by Gandingan Mentari Sdn Bhd and Ihsan Perdana Sdn Bhd without his knowledge. 'He first said the affidavit was 'very badly drafted', and then he said the admission was based on 'allegations at that time'. 'He later said that he was 'misled' and backtracked to say it was the information he received. And another version was that he was misled by media reporting,' Lim said after the defence had closed its case. SRC International is suing Najib and former CEO Nik Faisal Ariff Kamil for wrongfully receiving company property, and dishonestly and wrongfully conspiring to convert company property for their own use. A judgment in default of appearance has been entered against Nik Faisal. The suit originally included former chairman Ismee Ismail, as well as former directors Suboh Yasin, Shahrol Azral Ibrahim Halmi, Azhar Osman Khairuddin and Che Abdullah @ Rashidi Che Omar, as co-defendants. SRC International later dropped the case against them. However, they were added as third parties by Najib. Lim also said Najib never informed his Cabinet about the RM42 million he allegedly received, and that he continued to helm decisions involving SRC International. 'It cannot be said that he was acting in the country's interest, or that his actions can be downplayed to mere recklessness,' he said. The hearing continues before Justice Ahmad Fairuz Zainol Abidin on Tuesday, with Najib's lawyer, Shafee Abdullah, submitting in his defence, followed by lawyers appearing for the various third parties.