Ringgit opens higher on buying interest

Ringgit opens higher on buying interest

KUALA LUMPUR,. The ringgit opened higher against the US dollar on renewed interest from investors after the US retail sales showed a negative data figure, a dealer said.

At 9am, the local note was at 4.1880/1920 versus the greenback from 4.1935/1965 recorded at Wednesday’s closing.

The US Commerce Department yesterday released its retail and food services which declined by 0.3 per cent to US$525.6 billion compared with the previous month, its the first retreat in seven months.

This came after the greenback received a boost over the latest US-China trade truce.

However, against a basket of other currencies, the local note was traded mostly lower except with the yen, which rose to 3.8525/8572 from 3.8575/8613.

It depreciated against the Singapore dollar to 3.0576/0607 from 3.0560/0585, weakened against the British pound to 5.3728/3783 from 5.3513/3568 and slipped to 4.6411/6460 from 4.6288/6338 when compared with the euro. — Bernama



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