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Finance, Markets  |  JANUARY 27, 2016 1:49AM

Ringgit opens higher against US dollar

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Ringgit Malaysia 2The ringgit opened higher against the US dollar today in tracking the rebound in crude oil prices and on renewed demand, dealers said.

At 9 am, the local unit was traded at 4.2580/2640 from 4.2885/2945 against the greenback on Tuesday.

“Investors are also closely watching the US Federal Reserve’s meeting this week, since it will be the first (meeting) since interest rates went up in last December,” said a dealer.

The ringgit also traded mostly higher against other major currencies.

It rose against the Singapore dollar to 2.9862/9925 from 2.9964/9015 on Tuesday.

It was better against the yen at 3.5978/6035 from 3.6322/6376 yesterday.

However, the ringgit declined against the British pound to 6.1051/1159 from 6.0841/0939, but strengthened against the euro to 4.6208/6290 from 4.6500/6582.



 
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