KUALA LUMPUR (March 11): The ringgit opened higher against the US dollar today on the back of a weaker greenback, said an analyst.
At 9am, the local note improved to 4.1180/1230 against the US dollar from 4.1250/1280 at yesterday’s close.
Axi chief global market strategist Stephen Innes said the US dollar had eased following the slightly lower US bond yields yesterday.
“On the local front, sentiments improved following news that the government has allowed travel between states under the recovery movement control order (RMCO) under the targeted travel bubble programme,” he told Bernama.
Meanwhile, the ringgit was traded mostly higher against other major currencies.
It traded slightly better against the Singapore dollar at 3.0628/0673 from 3.0635/0664 yesterday but eased against the Japanese yen to 3.7957/8014 from 3.7955/7987 previously.
The ringgit appreciated versus the British pound to 5.7331/7417 from 5.7366/7425 yesterday and was higher against the euro to 4.9078/9154 from 4.9083/9127 previously.- The Edge Market