Ringgit opens marginally higher against US dollar

ringgit-dollarKUALA LUMPUR: The ringgit opened marginally higher against the US dollar today on better demand for the local note as weak US economic data dampened investor sentiment towards the greenback.

At 9.07 am, the local note stood at 4.4010/4050 against the greenback from 4.4050/4100 registered at 6pm on Friday.

A dealer said lower US retail sales weighed down on 10-year US Treasuries yield, thus boosting demand for the ringgit.

Meanwhile, the ringgit today was traded mostly lower against major currencies, except the euro, which saw the ringgit strengthening to 4.6739/6799 from 4.6786/6847 recorded last Friday.

The local note fell against the Singapore dollar to 3.1562/1595 from 3.1521/1572 previously, weakened against the yen to 4.0622/0663 from 4.0450/0503 and depreciated against the British pound to 5.5197/5265 from 5.5107/5187 last Friday.