KUALA LUMPUR, Aug 26 — The ringgit opened almost flat against the US dollar today as the greenback rebounded amid investors beginning to return to the safe-haven currencies.
At 9.30am, the local currency was quoted at 4.1680/1730 against the greenback from 4.1680/1710 yesterday.
A dealer said investors were hopeful ahead of US Federal Reserve Chairman Jerome Powell’s speech tomorrow, which is expected to determine the steps the Fed is willing to take to safeguard a fragile economic recovery.
Meanwhile, the ringgit slipped against the Singapore dollar to 3.0454/0502 from 3.0443/0467 yesterday but gained against the yen to 3.9144/9202 from 3.9184/9223.
The ringgit weakened against British pound to 5.4780/4854 from 5.4647/4703 yesterday and was lower against the euro at 4.9295/9371 from 4.9291/9343. — Bernama
