Kuala lumpur: The ringgit opened slightly higher against the US dollar on Thursday as traders turned their attention to the anticipated overnight policy rate (OPR) announcement scheduled for later in the day, despite the ongoing geopolitical tensions in the Middle East. At 8 am, the local currency was trading at 3.9340/9450 against the greenback, compared to Wednesday's closing rate of 3.9395/9465. According to BERNAMA News Agency, Bank Muamalat Malaysia Bhd chief economist Dr. Mohd Afzanizam Abdul Rashid indicated that Bank Negara Malaysia is broadly expected to maintain the OPR at its current level. Market participants are closely monitoring the central bank's commentary on the recent developments in the Middle East and their potential impact on monetary policy. Dr. Mohd Afzanizam highlighted the influence of the Middle East situation on global oil prices, pointing out that Malaysia's reliance on oil revenue has decreased significantly. The contribution of oil to national revenue is expected to drop to ab out 12.5 per cent by 2026, a substantial decline from over 40 per cent in 2009. While Malaysia imports oil for local consumption, it exports higher-grade crude at premium prices, which helps buffer the ringgit against oil price fluctuations. On Wednesday, the ringgit traded within a narrow range of RM3.9378 to RM3.9540 against the US dollar, and similar trading conditions are anticipated to continue as traders exhibit caution. At the market opening, the ringgit showed mixed performance against major global currencies. It remained steady against the Japanese yen, strengthened against the British pound, but weakened against the euro. Furthermore, the ringgit demonstrated strength against several ASEAN currencies. It appreciated against the Singapore dollar, the Thai baht, the Indonesian rupiah, and the Philippine peso, reflecting a firm stance in regional currency exchanges.