KUALA LUMPUR: The ringgit opened higher against the US dollar today as a rebound in crude oil prices resulted in an exponential gain for the local unit, dealers said.
At 9.01 am, the local unit was quoted at 4.0400/0450 to the US dollar from 4.0560/0650 on Wednesday.
The benchmark Brent Crude rose to US$43.53 per barrel at the opening today.
Affin Hwang Capital Research said in a note today that oil prices rose the most in three weeks after the US gasoline stockpile fell the most since April as refineries increased operating rates.
The ringgit was traded higher against a basket of major currencies.
It rose against the British pound to 5.3869/3948 from 5.4095/4227 on Wednesday and strengthened against the Singapore dollar to 3.0127/0182 from 3.0194/0268.
The ringgit appreciated against the yen to 3.9882/9943 from 4.0051/0152 and improved against the euro to 4.5010/5082 from 4.5387/5504. --BERNAMA