Ringgit opens marginally higher against the US dollar


KUALA LUMPUR: The ringgit opened marginally higher against the US dollar this morning, lifted by continued buying support for the local unit, dealers said.

At 9 am, the local unit stood at 4.2790/2830 against the greenback compared with Friday’s close of 4.2795/2835.

“Domestically, players may want to check out June’s money supply data and the country’s international reserves, as at end-June 2017, due to be released later today.

“Meanwhile, the greenback is expected to remain under pressure by US political uncertainties and weak data this week, with market doubts over whether there will be another round of US Federal Reserve rate hike this year,” a senior trader said.

Against other currencies, the local note was traded lower.

The ringgit fell against the Singapore dollar to 3.1520/1562 from 3.1481/1522 on Friday and depreciated versus the yen to 3.8759/8799 from 3.8461/8514 on Friday.

It slipped against the euro to 5.0248/0312 from 5.0130/0185 on Friday and shrank to 5.6209/6279 from 5.5989/5045 on Friday versus the British pound.