Ringgit opens firmer against US dollar

ringgit-dollar

KUALA LUMPUR: The ringgit opened firmer against the US dollar today bolstered by commercial demand, a dealer said.

At 9.15am, the local currency was quoted at 4.0300/0350 against the greenback, up from 4.0350/0400 at yesterday’s 6pm closing.

“The ringgit and some other emerging currencies strengthened in early Asian trade also because the dollar edged down on short-term technical profit-taking.

“But it (greenback) remained supported by players’ confidence that the US Federal Reserve would raise the interest rates before year-end,” she said.

The local note was also traded firmer against other major currencies.

It appreciated against the Singapore dollar to 2.9894/9938 from Monday’s 2.9935/9990 and gained against the yen to 3.9352/9412 from 3.9397/9461.

The ringgit also strengthened against the British pound to 5.2390/2471 from yesterday’s 5.2649/2730 and improved against the euro to 4.4660/4732 from 4.4756/4820.