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Tuesday, October 20th, 2020

Ringgit opens higher against the dollar on improved sentiment

by October 18, 2016 General

KUALA LUMPUR : The ringgit opened higher against the US dollar today on the back of improved sentiment and a technical correction in the greenback, a currency dealer said.

At 9.30 am, the ringgit was quoted at 4.2070/2120 vis-a-vis the greenback against Monday’s 6 pm close of 4.2150/2200.

He said the dollar was slightly lower after hitting a seven-month high yesterday and buying support for the local note could be due to oil prices being traded broadly steady in Asia time.

The ringgit, however, opened mostly lower against other major currencies.

It depreciated against the Singapore dollar to 3.0323/0379 from Monday’s 3.0315/0371 and fell against the yen to 4.0495/0555 from 4.0478/0530.

The ringgit also eased against the British pound to 5.1473/1555 from 5.1297/1362 and weakened against the euro to 4.6344/6404 from 4.6314/6386.