KUALA LUMPUR: The ringgit opened higher against the US dollar today on continuous support for the local note, dealers said.
At 9 am, the local unit opened at 4.0480/0510 against the US dollar from Monday’s 4.0600/0650.
A dealer said the ringgit continued yesterday’s rally which saw the local currency surged 0.68 per cent against the US dollar to 4.0630, the best since September 2016.
“Investors were positive of the ringgit which was supported by strong economic forecast on the back of strong exports, firm crude oil prices as well as expectation of an overnight policy rate rise in January next year,” he said
Against a basket of major currencies, the local note was traded mixed.
The ringgit rose against the Singapore dollar to 3.0056/0092 from 3.0094/0142 yesterday and improved against the euro to 4.8046/8098 from 4.8123/8191 on Monday.
It decreased against the British pound to 5.4539/4587 from 5.4522/4609 on Monday and slipped against the yen to 3.5992/6028 from yesterday’s 3.5958/5009 . -- Bernama