KUALA LUMPUR: The local note opened higher versus the greenback on mild buying support, a dealer said this morning.
At 9am, the ringgit stood at 4.2920/2960 against the US dollar, from 4.2960/2990 on Wednesday.
Investors are more interested in purchasing Asian currencies, compared to the US dollar after the greenback traded lower versus the euro following the announcement by European Central Bank President Mario Draghi that it could trim its stimulus this year.
“Asian currencies are taking advantage of the dollar’s weakness. The greenback fell to almost a one-year low yesterday against the euro as investors priced in a tighter monetary policy in Europe,” the dealer said.
Against a basket of major currencies, the local note was traded mostly lower. It depreciated against the Singapore dollar to 3.1047/1090 from 3.0996/0020. Vis-a-vis the euro, the ringgit slipped to 4.8869/8923 from 4.8798/8845; eased against the British pound to 5.5556/5616 from 5.5053/5109, but rose against the yen to 3.8233/8272 from 3.8289/8333 yesterday. -- BERNAMA