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Ringgit Opens Higher Against US Dollar

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KUALA LUMPUR: The ringgit opened higher against the US dollar Tuesday on fresh buying interest.

At 9.21 am(0121GMT), the ringgit was quoted at 4.0160/0210 against the greenback from 4.0270/0330 at 5 pm on Monday.

A dealer said the ringgit strengthened in early trade, taking advantage of higher overnight crude oil prices.
Crude oil futures rose 0.25 per cent to US$47.84 per barrel.

“Investors also turned away from the greenback ahead of the US Federal Reserve policy meeting tomorrow,” the dealer added.

The local note also traded mostly higher against other major currencies.

It rose against the Singapore dollar to 2.9340/9400 from Monday’s close of 2.9420/9481 and went up against the euro to 4.5449/5518 from 4.5590/5666.

The ringgit increased against the yen to 3.6837/6897 from 3.7013/7085, but weakened against the British pound to 5.8007/8095 from 5.7808/7910.

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