Ringgit opens higher against us dollar
KUALA LUMPUR, Sept 5 — The ringgit opened higher today, supported by stronger demand for the local note.
At 9am, the ringgit was quoted at 4.0770/0820 against the greenback from 4.0830/0900 last Friday.
The strengthening of the ringgit against the greenback was partly due to the release of US jobs data last week, which signalled that any hike in US interest rates could be further delayed.
FXTM Research Analyst Lukman Otunuga said the disappointing labour report had failed to fulfill a prerequisite needed for the Federal Reserves to pull the trigger in the short term.
Meanwhile, the ringgit traded mixed against a basket of major currencies.
The local note weakened against the euro to 4.5495/5567 as compared with
4.5640/5734 on Friday and declined against the British pound to 5.4216/4287 from 5.4161/3262.
It rose against the Singapore dollar at 2.9993/3.0048 from 3.0018/0080 and improved against the yen to 3.9232/9292 from 3.9411/9498. — Bernama