Malaysian Ringgit Higher Against US Dollar At Opening

KUALA LUMPUR, Dec 29 (Bernama) -- The Malaysian ringgit was higher at Tuesday's opening, supported by mild purchases in the local note, dealers said. At 9 am, the ringgit was quoted at 4.2900/2980 versus the greenback from 4.2950/2020 on Monday. A dealer said the dollar was trading at more than a one-week low against a basket of major currencies as investors took profit ahead of the year-end. "The dollar will likely trade in a tight range in the absence of new signals about the timing of the next US Federal Reserve rate hike. There will be greater interest as such on Asian currencies, including the ringgit," the dealer said. Meanwhile, the ringgit was mostly higher against other major currencies. Against the Singapore dollar, it rose to 3.0471/0532 from 3.0528/0582 on Monday and vis-a-vis the British pound, the local note strengthened to 6.3891/4019 from 6.4090/4207. Versus the Euro, the ringgit gained to 4.7108/7209 from 4.7112/7193, but slid to 3.5643/5718 from 3.5614/5675 against the yen. --BERNAMA