Ringgit Opens Higher Against US Dollar

KUALA LUMPUR, Sept 5 (Bernama) -- The ringgit opened higher against the US dollar Tuesday on improved investor sentiment with the greenback also retreating against regional currencies. At 9am, the local unit was quoted at 4.2645 /2685 versus the greenback from 4.2690/2720 on last Wednesday. A dealer said the ringgit rose on commercial demand and expectation of better data on the local economy due this week -- external trade statistics and Bank Negara's (central bank of Malaysia) foreign reserves. The local note was traded mostly higher against a basket of other major currencies except the yen. It advanced against the Singapore dollar to 3.1444/1493 from Wednesday's close of 3.1482/1514, improved against the pound to 5.5110/5187 from 5.5168/5220 last week and gained against the euro to 5.0752/0804 from 5.1010/1063 previously. Vis-a-vis the yen, the ringgit weakened to 3.8927/8971 from 3.8837/8882 last Wednesday. The banks open Tuesday and foreign traders are back after the long holiday break for Merdeka Day (National Day) , Hari Raya Aidiladha (Eid-ul Adha) and a special public holiday declared for Sept 4 following Malaysia's excellent performance at the 2017 SEA Games. -- BERNAMA