Ringgit opens higher against US dollar

ringgit-dollar

KUALA LUMPUR: The ringgit opened marginally higher against the US dollar today as investors’ interest shifted away from the US dollar, pressured by lower US Treasury yields.

At 9.08 am, the local note stood at 4.4070/4100 against the greenback from 4.4090/4120 registered at 6pm yesterday.

However, a dealer said the ringgit’s gains were capped by lower global oil prices, as this would have an unfavourable impact towards the country’s oil and gas revenue.

International benchmark Brent crude futures fell 11 cents to close at US$55.25 a barrel, overnight.

Meanwhile, the ringgit was traded lower against major currencies.

The local note fell against the Singapore dollar to 3.1569/1602 from 3.1497/1530 yesterday and was lower against the yen at 4.0576/0623 from 4.0539/0581.

It weakened against the euro to 4.7274/7315 from 4.6978/6028 and depreciated against the British pound to 5.6586/6651 from 5.5355/5410, yesterday.