KUALA LUMPUR: The ringgit opened higher against the US dollar this morning on improved demand supported by firmer oil prices and a weakening greenback.
At 9am, the local unit stood at 4.2740/2770 against the greenback, compared with Wednesday's close of 4.2825/2865.
The benchmark Brent crude was traded at around US$50.83 per barrel.
“A rally in oil prices over the long-term should provide positive sentiment for the ringgit,” said OANDA Senior Trader Stephen Innes.
He added that Bank Negara’s move to further liberalise its currency policy brought cheer to investors.
The ringgit was, however, easier against other major currencies. It fell against the yen to 3.8491/8528 from 3.8281/8320 on Wednesday, and declined against the Singapore dollar to 3.1489/1537 from 3.1401/1442.
It eased against the euro to 5.0113/0165 from 4.9814/9865, and dipped to 5.6028/6084 from 5.5745/5806 versus the British pound. -- BERNAMA