Ringgit opens higher against US dollar

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Kuala Lumpur
– The ringgit extended yesterday’s gained to open higher against the US dollar today on continued demand for the emerging currencies, including the local note, as investors remained concerned over the possibility of US interest rate increase moving forward, dealers said.

At 9.25 am, the local unit was quoted at 4.2240/2270 against the US dollar from 4.2300/2340 yesterday.

The local note, however, was traded mixed against other major currencies today.

It weakened against the Singapore dollar to 3.1057/1092 from Monday’s 3.1028/1062 but strengthened against the yen to 3.7467/7503 from 3.7567/7605 yesterday.

The ringgit depreciated against the euro to 4.9678/9718 from 4.9673/9724 on Monday but went up against the British pound to 5.5579/5632 from 5.5616/5673 previously. – Bernama