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Ringgit opens higher against US dollar

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Kuala Lumpur
– The ringgit opened higher against the US dollar today and some other currencies due to mild support for the local currency, a dealer said.

At 9 am, the local unit was quoted at 4.1880/1910 against the greenback from 4.1960/1000 recorded last Thursday.

The market was closed on Friday for the Awal Muharam public holiday.

The local unit was also slightly higher versus the euro, which is facing political uncertainty in Germany.

“Among other things, the ringgit also received some boost following improved global oil prices,” the dealer said, adding that since July, the commodity’s price has started to recover, benefiting oil exporting countries including Malaysia.

Against other major currencies, the ringgit was traded mostly higher.

The local note rose against the yen to 3.7243/7273 from 3.7308/7353 on Thursday and strengthened versus the euro to 4.9963/0003 from 4.9987/9039.

However, the local note fell to 3.1101/1132 versus the Singapore dollar from 3.1052/1090 and vis-a-vis the British pound, it declined to 5.6664/6717 from 5.6617/6679, previously. – Bernama