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Ringgit Strengthens Against The US Dollar

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KUALA LUMPUR: The ringgit strengthened against the US dollar at opening today on renewed buying interest for the local currency in line with the better equity market.

At 9 am, the local unit was quoted at 4.0930/0980 against the US dollar from yesterday’s close of 4.0970/0030.

Dealers attributed the rise to a technical correction after a slight decline yesterday.

“The Federal Reserve’s decision to keep the US interest rates unchanged also lifted the local note to trade higher,” another dealer said.

The ringgit was traded mixed against other major currencies.

It slipped against the Singapore dollar to 3.0368/0410 from Thursday’s close of 3.0312/0377 and rose against the yen to 3.9067/9129 from 3.9330/9403.

The local unit was down against the British pound to 5.8436/8536 from 5.8038/8135 but improved against the euro to 4.6124/6197 from 4.6128/6212. – Bernama

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