Malaysian Ringgit Opens Slightly Higher Against US Dollar

KUALA LUMPUR, Aug 27 (Bernama) -- The Malaysian ringgit on Monday recovered ground in opening slightly higher against the US dollar, on improved global sentiment and despite lower oil prices. At 9 am, the local note was traded at 4.0920/0960 versus the US dollar from last Friday's close of 4.1030/1070. A dealer said the greenback was higher following US Fed Reserve Chairman Jerome Powell’s comments on Friday on the possibility of increasing interest rates next month. “This spurred risk appetite for emerging currencies, including the ringgit,’ he added. Meanwhile, the ringgit traded mixed against a basket of other currencies. It went down against the British pound to 5.2590/2658 from 5.2668/2723 last Friday and was better against the Japanese yen at 3.6799/6844 from 3.6851/6887. The local unit fell against the Singapore dollar to 2.9980/3.0027 from 2.9950/9980 and was lower against the euro at 4.7598/7661 from 4.7502/7553. -- BERNAMA