Ringgit Opens Higher Against US Dollar

KUALA LUMPUR, Nov 9 (Bernama) -- The ringgit opened higher against the US dollar Wednesday on elevated crude oil prices and against the backdrop of the US presidential election, the outcome of which, will be known Wednesday. At 9 am, the ringgit was quoted at 4.1760/1850 to the greenback from 4.2000/2050 on Tuesday. "West Texas Intermediate closed near US$45 a barrel as Americans voted in the presidential election, with opinion polls showing Hillary Clinton slightly ahead of her rival, Donald Trump," Affin Hwang Capital Research said in a note Wednesday. Meanwhile, the benchmark Brent Crude stood at US$46.02 per barrel at the opening. The ringgit also traded higher against a basket of major currencies. It rose against the Singapore dollar to 3.0082/0158 from 3.0225/0267 on Tuesday and strengthened against the yen to 3.9583/9702 from 4.0188/0239. The local unit also appreciated against the British pound to 5.1620/1743 from 5.2177/2260 and improved against the euro at 4.5915/6018 from 4.6402/6465. -- BERNAMA