Ringgit opens higher against US dollar


KUALA LUMPUR: The ringgit rose at the opening against the US dollar today on the positive spillover effect from the French presidential election, where Emmanuel Macron clinched victory over Marine Le Pen.

At 9.03 am, the local note was quoted at 4.3330/3360 against the greenback from 4.3350/3400 on Friday.

Dealers said investors were relieved as Macron’s stance doused fears of another populist resurrection after the UK voted to be out of the European Union, as well as Donald Trump winning the US presidential election last year.

The ringgit was traded mixed against most major currencies.

It rose against the Singapore dollar to 3.0814/0846 from 3.0856/0896 and was higher against the Japanese yen at 3.8403/8440 from 3.8616/8671 on Friday.

The ringgit declined against the British pound to 5.6121/6186 from 5.6052/6129 and trimmed against the euro to 4.7529/7579 from 4.7490/7562 previously.