Ringgit higher against US dollar at opening

KUALA LUMPUR: The ringgit opened higher against the US dollar today tracking the stronger Chinese yuan against the greenback, traders said.

At 9.10am, the ringgit rose to 4.1720/1770 against the US dollar from 4.1780/1810 yesterday.

A trader, however, said the gains were limited as most investors were cautious ahead of Bank Negara Malaysia’s Monetary Policy Committee (MPC) meeting today, as well as the FTSE Russell’s World Government Bond Index (WGBI) exclusion announcement.

“The Russell Bond exclusion announcement is nearing so there is that hanging over the markets head. Although I don’t think Russell will exclude Malaysia bonds,” said a dealer.

Meanwhile, the local note also traded firmer against other major currencies.

It marginally improved against the Singapore dollar to 3.0276/0323 from 3.0295/0328 on Wednesday gained against the Japanese yen to 3.8594/8651 from 3.8786/8824.

The ringgit strengthened versus the British pound to 5.1449/1515 from 5.1648/1702 and rose vis-a-vis the euro to 4.5942/6005 from 4.6033/6079.