Ringgit strengthens against US dollar at opening

Ringgit strengthens against US dollar at opening

KUALA LUMPUR,. The ringgit strengthened against the US dollar today on an improved risk appetite and sentiment amid stronger crude oil prices, dealers said.

At 9am, the ringgit stood at 4.1350/1390 against the greenback from 4.1415/1445 yesterday.

A dealer said the ringgit was riding on the improved global risk appetite and emerging markets sentiment which are helping regional currencies in general.

“But crude oil remains the ringgit’s ace in the hole and with Brent looking to test convincingly north of US$80 (RM331), there will be some appeal for the local unit,” he said.

The ringgit also traded higher against other major currencies.

It appreciated against the Singapore dollar to 3.0209/0245 from 3.0237/0267 on Wednesday and strengthened against the yen to 3.6834/6880 from 3.6866/6896 yesterday.

It went up against the euro to 5.4346/4407 from 5.4581/4633 and increased against the British pound to 4.8297/8352 from 4.8439/8491. ? Bernama