Ringgit higher against US dollar in early session

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KUALA LUMPUR (Oct 1): The ringgit opened 25 basis points higher against the US dollar on Friday, boosted by renewed buying interest, said a dealer.


At 9.03 am, the local note stood at 4.1830/1870 versus the greenback from Thursday’s closing of 4.1855/1870.

The dealer said positive sentiment still lingered in the local market as investors remained confident over the country’s fundamentals, coupled with the Klang Valley’s transition to Phase Three of the National Recovery Plan, starting from Friday.

Prime Minister Datuk Seri Ismail Sabri Yaakob said the decision was made based on the risk assessment by the Health Ministry and the National Security Council.


Meanwhile, the ringgit was traded mixed against a basket of major currencies.

The local note eased against the Singapore dollar to 3.0764/0796 compared with 3.0760/0775 at Thursday’s close and depreciated against the Japanese yen to 3.7553/7592 from 3.7394/7407 previously.

However, the ringgit had improved versus the British pound to 5.6266/6319 from 5.6308/6328 at the close on Thursday and appreciated vis-a-vis the euro to 4.8372/8418 from 4.8531/8548 previously. -BERNAMA -The Edge Markets