KUALA LUMPUR (Oct 14): The ringgit opened higher against the US dollar on Thursday on improved buying momentum for the domestic unit.
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At 9.08am, the local note advanced to 4.1500/1530 versus the greenback from Wednesday’s close of 4.1590/1610.
ActivTrades trader Dyogenes Rodrigues Diniz said more than 75% of the Malaysian population has received at least one shot of Covid-19 vaccine and the number of new infection cases decreased day after day.
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“The news that Malaysia will allow travel of fully vaccinated adults from Monday boosted sentiment and is playing in favour of the ringgit. From a technical standpoint, the US dollar/ringgit has the potential to fall as far as 4.1350, where it is likely to find some buying strength,” he added.
The ringgit, however, was traded mostly lower against a basket of major currencies, rising versus the Japanese yen to 3.6599/6629 against Wednesday’s close of 3.6611/6632 but depreciated versus the British pound to 5.6722/6763 from 5.6675/6702.
The local note fell against the Singapore dollar to 3.0766/0790 compared with Wednesday’s 3.0739/0758 and went down against the euro to 4.8136/8171 from 4.8074/8097.-BERNAMA