Ringgit higher in early trade

Nov 11, 2016
Ringgit versus USD
Ringgit versus USD

The ringgit opened higher today ahead of the release of the country’s third quarter Gross Domestic Product (GDP) data by Bank Negara Malaysia later today, said a dealer.

At 9 am, the local unit was quoted at 4.2670/2750 against the dollar from Thursday’s close of 4.2700/2790.

The dealer said the ringgit also strengthened amid brewing positive sentiments in the market in view of the subsiding ripple of the US presidential election last Wednesday, enabling the market to stabilise.

The ringgit traded mostly higher against other major currencies in early trade today.

It rose against the Singapore dollar to 3.0209/0270 from 3.0409/0495 on Thursday and strengthened against the yen to 4.0013/0092 from 4.0207/0307.

The ringgit however eased against the British pound to 5.3500/3626 from 5.2905/2030 but rose against the euro to 4.6451/6546 from 4.6505/6624.

Source: Bernama