Ringgit opens higher against US dollar

The ringgit opened higher against the US dollar today as appetite for emerging currencies, including the ringgit emerged,
dealers said.

At 9.01am, the local currency rose against the greenback to 3.2065/2085 from 3.2090/2110 yesterday.

A dealer said many investors remained on the sidelines over concerns whether the US Federal Reserve would or would not begin trimming its stimulus programme sooner than expected.

Meanwhile, against other major currencies, the ringgit was traded mixed.

The local note depreciated against the Singapore dollar to 2.5666/5684 from 2.5674/5709 but improved against the yen to 3.2187/2211 from 3.2199/2232 yesterday.

Against the British pound, the ringgit rose to 5.0945/0989 from 5.1168/1212 but slipped to 4.3079/3113 from 4.2946/2979 against the euro.