Ringgit firm against US dollar at opening

Ringgit firm against US dollar at opening

KUALA LUMPUR,. The ringgit opened slightly firmer against the US dollar today, a dealer said.

At 9.20am, the ringgit stood at 4.1080/1120 compared to yesterday’s close of 4.1100/1140.

He said the traders stayed on the sidelines and refrained from making any significant moves ahead of today’s Federal Reserve’s (Fed) monetary policy meeting, making the US dollar subdued against major currencies.

He said the Fed is expected to hold interest rate unchanged after hiking interest rates four times last year.

“With global stocks tumbling on growth concerns and falling crude oil prices, traders are now opting for the safe haven,” he said.

Meanwhile, the local note traded higher against other major currencies.

It strengthened against the Singapore dollar to 3.0385/0425 against 3.0397/0429 yesterday and increased versus the euro to 4.6963/7012 against 4.7018/7068 .

The local unit advanced vis-a-vis the Japanese yen to 3.7543/75948 from 3.7548/7595 and appreciated against the British pound to 5.3749/3818 from 5.4108/4177. — Bernama

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