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Thursday, February 27th, 2020

Ringgit firms up against US dollar early Tuesday

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by March 29, 2016 General

KUALA LUMPUR: The ringgit opened higher versus the US dollar on Tuesday on strong buying momentum for the local note, dealers said.

At 9am, the ringgit was quoted at 4.0030/0090 to the greenback from 4.0110/0160 at 5pm on Monday.

A dealer said the local currency was lifted by strong buying as investors shifted their interest to the local currency from the greenback following the sluggish consumer spending data released by the US.

“This would likely affect the US Federal Reserve’s intention to hike interest rates next month,” the dealer said.

The ringgit was mixed against a basket of major currencies.

Against the Singapore dollar, it rose to 2.9236/9286 from 2.9280/9335 on Monday and vis-a-vis the yen, improved to 3.5300/5362 from 3.5352/5411.

Against the British pound, the ringgit however, fell to 5.7027/7128 from 5.6856/6931 and weakened to 4.4806/4889 from 4.4799/4871 versus the euro. – Bernama

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