Ringgit opens higher against US dollar

KUALA LUMPUR (Aug 25): The ringgit opened higher against the US dollar today, extending yesterday’s gains as more investors shifted their interest towards emerging currencies, including the ringgit.

At 9.35am, the local currency was quoted at 4.1680/1730 against the greenback from 4.1740/1790 recorded on Monday.

A dealer said that the upward momentum in the global oil price helped to lift market sentiments for riskier assets, resulting in the local note being traded higher against other major currencies.

The ringgit rose against the Singapore dollar to 3.0432/0473 from 3.0487/0533 recorded yesterday and gained against the yen to 3.9328/9379 from 3.9482/9533.

The ringgit strengthened against British pound to 5.4505/4574 from 5.4775/4858 and appreciated against the euro to 4.9170/9233 from 4.9387/9458 previously.

Source: TheEdgeMarkets