Ringgit marginally higher against US dollar at opening

Ringgit marginally higher against US dollar at opening

KUALA LUMPUR,. The ringgit opened marginally higher against the US dollar today as buying interest in the local note recovered ahead of the release of the Consumer Price Index (CPI) data, dealers said.

At 9am, the ringgit rose to 4.1600/1650 versus the greenback from 4.1615/1655 yesterday.

The dealer said, however, growing global risks sentiment coupled with declining oil prices and the upcoming Budget 2019 announcement would continue to cause the ringgit to trade with a defensive posture.

Meanwhile, the ringgit traded higher against other major currencies.

The local unit improved against the Singapore dollar to 3.0184/0225 from 3.0206/0237 on Tuesday, and vis-a-vis the Japanese yen, recovered to 3.6988/7042 from 3.7050/7103.

It firmed up against the British pound to 5.3997/4078 from 5.4075/4139 and appreciated against the euro to 4.7711/7773 from 4.7782/7841. — Bernama