KUALA LUMPUR, Oct 28 — The ringgit opened higher in early trading today, continuing last week’s gains on the back of improved sentiments and continuous buying interest, dealers said.

At 9.08am, the ringgit was quoted at 3.1275/1305 vis-a-vis the greenback at 3.1550/1585 Friday.

A dealer said the fiscally prudent Budget 2014 announced by Prime Minister Datuk Seri Najib Tun Razak on Friday is likely to push the local currency market higher this week.

The new budget would encourage investors by improving fiscal credibility and enhance traders’ market psychology, the dealer added.   

Meanwhile, the ringgit was traded broadly higher against other major currencies.

The domestic currency appreciated against the Singapore dollar to 2.5330/5360 from 2.5516/5546 on Friday and rose against the yen to 3.2041/2078 from 3.2492/2532 last week.

The local unit strengthened against the British pound to 5.0597/0658 from Friday’s 5.1152/1212 and was traded firmer against the euro to 4.3197/3248 from 4.3602/3654 last week. — Bernama