KUALA LUMPUR: The ringgit opened higher against the US dollar and most major currencies today on renewed demand for it, a dealer said.
At 9.15 am, the local unit stood at 4.2180/2230 against the greenback from Tuesday’s close of 4.2220/2250.
The local foreign exchange market was closed yesterday for the Deepavali holiday.
A dealer said the improved risk appetite for the ringgit was due to steady commercial demand.
“Meanwhile, the greenback, which was earlier supported by a rise in US bond yields, had reversed its gains. It lost its steam after data showed the US home-building fell for September,” he said.
The local currency rose against the Singapore dollar to 3.1092/1134 from 3.1133/1160 on Tuesday and strengthened against the yen to 3.7354/7408 from 3.7636/7669 previously.
The ringgit was traded higher against the British pound to 5.5728/5811 from Tuesday’s 5.5946/5994. It, however, declined against the euro to 4.9810/9874 from 4.9642/9686 previously. -- Bernama