Ringgit opens higher against US dollar

KUALA LUMPUR: The ringgit opened higher against the US dollar today, as lack of fresh leads kept investors away from the safe-haven currencies, dealers said.

As at 9.01am, the local note was quoted at 4.3450/3530 compared with yesterday’s close of 4.3505/3555.

A dealer said investors were closely monitoring the situation in the US after the country lifted its Covid-19 shutdown.

Their focus turned to whether small to mid-sized businesses are resilient enough to reopen their operations and can find enough business to survive.

Against a basket of other currencies, the local note traded mostly higher.

The local currency rose against the Singapore dollar to 3.0715/0774 from 3.0724/0761 yesterday and went up versus the Japanese yen to 4.0329/0414 from 4.0395/0452.

The ringgit fell against the euro to 4.7656/7757 from 4.7634/7701 but edged higher against the British pound to 5.3044/3154 from 5.3359/3438.