Ringgit opens higher against the US dollar

ringgit-dollarKUALA LUMPUR: The ringgit opened higher against the US dollar for the fourth consecutive day, driven by continuous interest in emerging market assets amid the lack of catalysts in major economies, dealers said.

At 9 am, the local unit stood at 4.2840/2870 against the greenback compared with yesterday’s close of 4.2900/2930.

A dealer said the European Central Bank’s decision to leave rates unchanged helped to further drive interest in emerging markets assets.

Meanwhile, the ringgit was mixed against other major currencies.

It eased against the Singapore dollar to 3.1343/1379 from yesterday’s 3.1307/1340 and depreciated against the Japanese yen to 3.8250/8284 from 3.8174/8218 the previous day.

The local unit appreciated against the British pound to 5.5516/5560 from Thursday’s 5.5620/5663 but weakened against the euro to 4.9810/9849 from 4.9348/9387 yesterday.