Ringgit slightly higher at opening

The ringgit opened slightly higher against the US dollar today. — Reuters pic
The ringgit opened slightly higher against the US dollar today. — Reuters pic

KUALA LUMPUR, Aug 16 — The ringgit opened slightly higher against the US dollar today morning due to mild buying support, amid cautious market sentiment, a dealer said.

At 9am, the ringgit stood at 4.1900/1940 against the greenback from 4.1920/1950 recorded at Thursday’s close.

Investors according to the dealer, were waiting for the release of the second-quarter and first-half economic performance by Bank Negara Malaysia this afternoon.

“There is not a great deal of focus on the ringgit now as the volatility in the Chinese yuan has very much dissipated. But the gloomy global growth outlook and the uncertain outlook for oil prices continue to hobble the ringgit,” he said.

The local note traded higher against a basket of other currencies.

Against the yen, the local note rose to 3.9480/9529 from 3.9570/9609 while vis-a-vis the Singapore dollar it went up to 3.0161/0205 from 3.0173/0199.

The ringgit strengthened against the British pound to 5.0645/0705 from 5.0706/0760 and improved versus the euro to 4.6522/6574 from 4.6737/6787. — Bernama

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