KUALA LUMPUR, Dec 16 — The ringgit opened slightly higher against the US dollar in early trading today on mild buying interest, dealers said.
At 9am, the ringgit was quoted at 3.2330/2360 to a US dollar compared to 3.2340/2370 at last Friday’s close.
A currency dealer said the ringgit may be traded lower this week ahead of the Federal Open Market Committee meeting this week.
“We expect players to closely monitor the outcome of the meeting whether the Federal Reserve will or will not announce the commencement of Quantitative Easing tapering as well as the accompanying statement,” he said.
Meanwhile, the ringgit declined against the Singapore dollar to 2.5765/5791 from 2.5753/5797 on Friday and depreciated against the yen to 3.1328/1369 from 3.1222/1263 last week.
The domestic currency appreciated against the British pound to 5.2682/2744 from 5.2863/2918 on Friday while the ringgit was traded higher against the euro to 4.4438/4485 from 4.4497/4544 last week. — Bernama
