Ringgit opens moderately higher against US dollar

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KUALA LUMPUR: The ringgit rebounded slightly from yesterday’s close to open moderately higher against the US dollar today as investors remained concerned ahead of the release of US inflation data later today that may provide more clues on the next US interest rate increase.

At 9.05am, the local unit stood at 4.2135/2165 against the greenback from Thursday’s close of 4.2200/2. The ringgit, however, was mixed against other major currencies.

It inched up against the Singapore dollar to 3.1133/1162 from Thursday’s 3.1153/1187 but weakened against the British pound at 5.5917/5970 from 5.5772/5841 yesterday.

The local unit strengthened against the euro to 4.9900/9949 from 5.0007/0071 yesterday. It, however, eased against the yen to 3.7553/7587 from 3.7538/7577 yesterday. — Bernama


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