KUALA LUMPUR: The ringgit opened higher against the US dollar today, bolstered by mild commercial demand.
At 9.10am, the local unit stood at 4.2190/2220 against the greenback, from yesterday's close of 4.2220/2250.
However, a trader said the local note is expected to move within a tight range at the 4.22 level, as investors are waiting for more clues on the market's direction.
"The ringgit may continue to find support from expected positive sentiment over the 2018 Budget next week.
“Some pro-growth measures would help boost investor confidence and attract more private investments, as well as increase foreign fund inflow to the country," he added.
The budget will be tabled by Prime Minister Datuk Seri Najib Razak in the Dewan Rakyat on Oct 27.
The local note, however, was traded mixed against other major currencies today.
It appreciated against the yen to 3.7429/7466 from Thursday's 3.7466/7502, and rose against the British pound to 5.5505/5557 from 5.5536/5593 yesterday. It declined against the Singapore dollar to 3.1100/1129 from 3.1097/1123 on Thursday, and eased against the euro to 5.0008/0052 from 4.9870/9923 previously. -- BERNAMA