Ringgit remains higher against US dollar at opening

KUALA LUMPUR: The ringgit extended Friday’s positive trend and opened higher against the US dollar amid positive overtone from G-20 meeting.

At 9.22am, the ringgit stood at 4.1255/1300 against the greenback from Friday’s close of 4.1300/1350.

The local currency opened at 4.1260/1290 this morning.

The ringgit alongside other Asean currencies traded higher in tandem with the trade war relief.

The Asean currencies remain the huge beneficiary of detente in a trade war and the easing of Fed policy.

The ringgit was higher against a basket of major currencies at the opening.

The local currency strengthened against the Singapore dollar to 3.0497/0524 from 3.0520/0568 on Friday and appreciated against the Japanese yen to 3.8112/8147 from 3.8354/8412. The ringgit firmed up vis-a-vis the pound to 5.2351/2405 from 5.2352/2419 and rose against the euro to 4.6838/6889 from 4.7012/7085. 

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