Malaysian Ringgit Extend Gains To Open Higher Against US Dollar

KUALA LUMPUR, Nov 8 (Bernama) -- The Malaysian ringgit extended Tuesday’s gains to open higher against the US dollar on Wednesday as more investors shifted to emerging currencies including the ringgit due to concerns over the US tax bill, amid the oil price rally, dealers said. At 9.25 am, the local unit traded at 4.2270/2300 against the greenback from 4.2285/2305 on Tuesday. The ringgit, however, was traded lower against a basket of major currencies. It weakened against the Singapore dollar to 3.0994/1034 from 3.0983/1009 on Tuesday and depreciated versus the yen to 3.7134/7167 from 3.7001/7022 yesterday. The ringgit eased to 5.5665/5718 from 5.5605/5635 compared with the British pound on Tuesday and slipped against the euro to 4.9008/9055 from 4.8907/8938, previously. -- BERNAMA