Ringgit opens higher against US dollar

February 14, 2018 | By | Reply More

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KUALA LUMPUR: The ringgit opened higher against the US dollar this morning on continued buying demand for the local note, as well as positive local sentiment ahead of the announcement on Malaysia’s 2017 gross domestic product (GDP) figure, dealers said.

At 9.00 am, the ringgit stood at 3.9300/9350 against the greenback from Tuesday’s close of 3.9370/9400.

A dealer said the greenback was lower in respect of risk sentiment as investors also await the US January inflation data, scheduled for later today.

“Meanwhile, at home, the central bank is set to announce Malaysia’s fourth quarter 2017 and full year GDP data this afternoon.It is expected to push past the five per cent-mark,” the dealer said.

Against a basket of major currencies, the ringgit traded mixed.

It fell against the euro to 4.8555/8633 from 4.8476/8517 and was marginally lower against the Japanese yen at 3.6487/6540 from 3.6569/6600.

Against the British pound, the local note rose to 5.4584/4673 from 5.4653/4715 and inched up versus the Singapore dollar at 2.9750/9793 from 2.9760/9792. — Bernama

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