Ringgit opens higher against US dollar

KUALA LUMPUR (July 29): The ringgit opened higher against the US dollar on Thursday as the greenback continued to move sideways against the local note after no changes were made to the US monetary policy, a dealer said.

At 9.03 am, the ringgit rose to 4.2260/2270 versus the greenback from Wednesday’s close of 4.2330/2355.

ActivTrades trader Dyogenes Rodrigues Diniz said the US interest rate remained unchanged at 0.25 per cent, while the Federal Open Market Committee (FOMC) report indicated that the Fed will not remove the current financial stimulus until employment in the US is at pre-pandemic levels.-BERNAMA