Ringgit opens broadly higher against US dollar

At 9.25am, the ringgit was quoted at 4.1830/1890 to the greenback against yesterday’s 6pm close of 4.1925/1975. — Reuters pic
At 9.25am, the ringgit was quoted at 4.1830/1890 to the greenback against yesterday’s 6pm close of 4.1925/1975. — Reuters pic

KUALA LUMPUR, Oct 19 — The ringgit opened broadly higher against the US dollar and other major currencies today on renewed demand for the domestic unit, a dealer said.

At 9.25am, the ringgit was quoted at 4.1830/1890 to the greenback against yesterday’s 6pm close of 4.1925/1975.

The dealer said the ringgit’s rebound was on the back of oil prices being
traded steady in Asia time, while the US dollar retraced due to a release of a downbeat US data.

“The latest release of US consumer prices showed that inflation had slightly moderated, and players thus, trimmed bets on a year-end US Federal Reserve rate hike,” he added.

The local currency rose against the Singapore dollar to 3.0183/0245 from 3.0240/0281 yesterday and strengthened against the yen to 4.0303/0380 from 4.0332/0388.

The ringgit also traded higher against the British pound at 5.1443/1529 from 5.1517/1600 and gained against the euro to 4.5975/6045 from 4.6201/6261. — Bernama

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