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Ringgit opens marginally higher against US dollar

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Kuala Lumpur
– The ringgit opened marginally higher against the US dollar this morning as the greenback extended its weakness on the possibility of the US Federal Reserve raising interest rate on a gradual basis.

This move resulted in more investors shifting their interest to emerging currencies, including the ringgit.

At 9am, the local note was traded at 4.4330/4360 against the greenback from Friday’s close of 4.4340/4370.

The ringgit, meanwhile, traded mixed against other major currencies.

It eased against the Singapore dollar to 3.1669/1708 from 3.1638/1682 on Friday and versus the British pound, it rose to 5.4898/4944 from 5.4933/4983, previously.

The local note edged up against the euro to 4.7664/7700 from Friday’s close of 4.7767/7818, but it was lower against the yen at 3.9373/9403 from 3.9156/9196 on Friday. — Bernama