Ringgit opens higher against US dollar

Uncertainties over the US dollar due to a potential interest rate hike loom, while buying interest for the ringgit results in a higher opening today.

KUALA LUMPUR: The ringgit rebounded to open higher against the US dollar amid renewed buying interest for the local unit.

At 9.12am, the ringgit was pegged at 4.1740/1790 against the greenback from 4.1810/1860 recorded on Tuesday.

A dealer said the US dollar headed south ahead of a central bankers meeting this Friday that will make an announcement should there be an interest rate hike.

The ringgit was mostly higher against a basket of major currencies.

Against the yen, the ringgit rose to 3.244/9298 from Tuesday’s 3.9321/9372 while vis-a-vis the Singapore dollar it went up to 3.0133/0171 from 3.0164/0204.

The local note fell against the British pound to 5.0773/0842 from 5.0569/0646 but advanced against the euro to 4.6306/6366 from 4.6334/6393.