Ringgit opens almost flat against US dollar

KUALA LUMPUR: The ringgit opened almost flat against the US dollar today as the greenback rebounded amid investors beginning to return to the safe-haven currencies.

At 9.30am, the local currency was quoted at 4.1680/1730 against the greenback from 4.1680/1710 yesterday.

A dealer said investors were hopeful ahead of US Federal Reserve Chairman Jerome Powell’s speech on Thursday, which is expected to determine the steps the Fed is willing to take to safeguard a fragile economic recovery.

Meanwhile, the ringgit slipped against the Singapore dollar to 3.0454/0502 from 3.0443/0467 yesterday but gained against the yen to 3.9144/9202 from 3.9184/9223.

The ringgit weakened against the British pound to 5.4780/4854 from 5.4647/4703 and was lower against the euro at 4.9295/9371 from 4.9291/9343 yesterday.