Ringgit Opens Higher Versus US Dollar On Mild Demand

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KUALA LUMPUR, Sept 21 – The ringgit opened higher against the US dollar on mild commercial demand from investors today, a currency dealer said. At 9.15am, the local unit strengthened against the US dollar to 4.1350/1400 from 4.1370/1410 yesterday. The dealer said firmer crude oil prices in early Asian trade also lent support to the local currency.

“But the ringgit and major currencies might stay range-bound today, penned in by uncertainty about the outcome of the US Federal Reserve and Bank of Japan policy meetings later in the session,” he added. The local note was traded higher against other major currencies except the Singapore dollar.

It marginally weakened against the Singapore dollar to 3.0366/0408 from 3.0357/0408 on Tuesday. The local currency strengthened against the yen to 4.0647/0708 from 4.0650/0702, rose against the British pound to 5.3726/3795 from 5.3785/3862 and advanced against the euro to 4.6101/6173 from 4.6276/6325. — Bernama

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