Ringgit opens almost flat against greenback

KUALA LUMPUR: The ringgit opened almost flat against the greenback today as investors awaited new market direction.

At 9.04am, the ringgit was flat at 4.0580/0630 compared with yesterday’s close of 4.0580/0620.

A dealer said that the ringgit had peaked last week to a nine-month high due to declining global tension as well as steady oil and commodity prices.

“As of now, the ringgit could rise further coupled with stronger local financial policy in place,” he said.

Against a basket of other currencies, the ringgit was traded mostly lower against other major currencies.

It was slightly lower against the Singapore dollar at 3.0117/0159 from 3.0108/0142 yesterday, fell against the British pound to 5.2734/2815 from 5.2685/2757, and declined against the Euro to 4.5003/5075 from 4.4995/5056.

Meanwhile, against the Japanese yen, the ringgit was slightly higher at 3.6824/6879 from yesterday’s 3.6831/6877.