Malaysian Ringgit Opens Higher Against US Dollar

KUALA LUMPUR, Jan 5 (Bernama) – The Malaysian ringgit opened higher against the US dollar on Friday with the rise in global oil prices as the main catalyst for the demand of the local note. At 9 am, the ringgit stood at 4.0000/0030 against the greenback from from Thursday's closing of 4.0050/0080. The benchmark Brent crude was traded at US$68.10 (US$1 = RM4.00) a barrel, up 0.04 per cent, while the West Texas Intermediate crude oil was at US$62.03 per barrel, up 0.03 per cent, at the market opening. Meanwhile, the ringgit was traded mostly higher against a basket of major currencies. It depreciated against the Singapore dollar to 3.0141/0184 from 3.0129/0156 on Wednesday and rose against the yen to 3.5470/5506 from 3.5584/5614 previously. The ringgit fell against the euro to 4.8296/8344 from 4.8228/8280 yesterday and was higher against the British pound at 5.4240/4289 from 5.4240/4296 previously. -- BERNAMA