Ringgit easier at opening amid higher US rate

Malaysian ringgit notes against US dollar background

KUALA LUMPUR:The ringgit opened easier against the US dollar today amid the higher US rate and stronger greenback, a dealer said.

At 9am, the local currency stood at 4.1470/1500 against 4.1440/1490 recorded at Friday’s closing.

A dealer said the external environment is not at all amicable for Asian currencies, including the local note.

“The escalation of US-China tensions is near impossible to hold even the slightest of bullish conviction and besides, the demand for the ringgit has been tepid at best with the upcoming budget in focus,” he said.