Ringgit opens higher against USD

Jan 26, 2017
At 9.12 am, the local unit was traded at 4.4260/4310 against the US dollar, compared with 4.4370/4400 at the close yesterday.
At 9.12 am, the local unit was traded at 4.4260/4310 against the US dollar, compared with 4.4370/4400 at the close yesterday.

The ringgit was higher against the US dollar in the early session today, as prolonged concerns over US President Donald Trump’s fiscal policies put pressure on the greenback.

At 9.12 am, the local unit was traded at 4.4260/4310 against the US dollar, compared with 4.4370/4400 at the close yesterday.

A dealer said the stronger ringgit was in line with the performance of Asian currencies in recent days with optimism towards the US dollar hampered by Trump’s protectionist approach to trade.

However, the ringgit traded mostly lower against a basket of major currencies.

It depreciated against the Singapore dollar to 3.1317/1357 from the 3.1271/1296 recorded yesterday and declined against the British pound to 5.5936/6030 from 5.5844/5900.

The local note rose against the euro to 4.7619/7691 from 4.7693/7734 and was flat against the yen to 3.9068/9122 from 3.9068/9105. РBernama 

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