KUALA LUMPUR: The ringgit rose against the US dollar in the opening session today on mild bargain hunting activities following yesterday’s decline.
At 9am, the ringgit was quoted at 4.3550/3650 against the US dollar, from 4.3700/3780 at the close yesterday.
A dealer said demand for emerging Asian currencies, including the ringgit, will be determined today by China’s economic growth data, slated for release later on Friday.
“Investors will be closely monitoring economic data out of China to gauge the magnitude of the Covid-19 economic impact,” he added.
Meanwhile, the ringgit also traded higher against other major currencies.
It was higher against the Singapore dollar at 3.0585/0672 from 3.0604/0673, and rose against the yen to 4.0373/0473 from 4.0549/0635 yesterday.
The local note advanced against the British pound to 5.4385/4528 from 5.4503/4620, and appreciated against the euro to 4.7300/7426 from 4.7489/7593. — Bernama