Ringgit Opens Higher Versus US Dollar

KUALA LUMPUR, Dec 31 (Bernama) -- The ringgit opened higher against the US dollar on the last trading day of 2018, lifted by the firmer equity market, which was supported by the year-end window dressing activities. At 9.02 am, the ringgit traded at 4.1430/1460 versus the US dollar from 4.1500/1550 at last Friday's closing. A dealer said demand for the local note increased as international investors who traded on Bursa Malaysia converted their currencies into the ringgit, hence, pushed up the local unit's performance. However, the dealer noted that investors, were likely still keeping their eyes wide open on the Producer Price Index report and M3 Money supply for November, scheduled to be released later today, for more investment directions. At the opening bell, the ringgit traded mixed against other major currencies. It rose against the Japanese yen to 3.7531/7568 from 3.7597/7653 last Friday and appreciated vis-a-vis the euro to 4.7412/7459 from 4.7488/7550. The ringgit, however, contracted versus the pound to 5.2571/2613 from 5.2468/2548 and was flat against the Singapore dollar at 3.0336/0369 from 3.0336/0384. -- BERNAMA