Ringgit opens flat against US dollar

ringgit-dollarKUALA LUMPUR: The ringgit opened flat against the US Dollar today, matching each other’s strength, said dealers.

At 9 am, the local note was quoted at 4.3460/3490 against the greenback from 4.3460/3510 at 6pm on Thursday.

A dealer said the greenback’s outlook remained bright on increased expectation of the Federal Reserve raising US interest rates next month, on the back of an upbeat US data on Thursday.

Meanwhile, dealers said the local note remained bolstered, matching the greenback strength following the increase in crude oil prices today.

West Texas Intermediate Crude Oil rose 1.05% to US$47.83 per barrel and Brent Crude Oil improved 1.08% to US$50.77 per barrel.

The ringgit traded mostly higher against most major currencies.

It marginally declined against the Singapore dollar to 3.0851/0877 from 3.0849/0893 and trimmed against the Japanese yen at 3.8160/8196 from 3.8059/8113 on Thursday.

The ringgit rose against the British pound to 5.5976/6041 from 5.6159/6228 and gained against the euro to 4.7219/7256 from 4.7232/7304 previously.