Thursday, January 20

Ringgit opens higher against US Dollar

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KUALA LUMPUR: The ringgit opened higher against the US dollar today on renewed buying demand and amid an increase in overnight crude oil prices.

At 9.01am, the local unit was quoted at 4.0380/0450 against the greenback from 4.0590/0640 at 5 pm on Wednesday.

A dealer said the ringgit strengthened in early trade, taking cue from the overnight crude oil prices.

Brent Crude rose to US$52.77 (RM214.26) per barrel.

“Investors are still trying to digest the discouraging US employment figures, while taking a wait and see approach on any interest rate hike by the Fed,” the dealer added.

The local note also traded higher against other major currencies.

It rose against the Singapore dollar to 2.9929/9999 from Wednesday’s close of 3.0002/0041 and was up against the euro to 4.6009/6105 from 4.6147/6220.

The ringgit increased against the yen to 3.7781/7864 from 3.7896/7953 and improved against the British pound to 5.8575/8685 from 5.8977/9058. — Bernama