Ringgit Opens Higher Against Greenback

KUALA LUMPUR, May 26 (Bernama) -- The ringgit extended Thursday’s gains to open higher against the US dollar Friday on continued buying interest due to better sentiment boosted by the encouraging first quarter economic growth, dealers said. At 9.11 am, the local unit was quoted at 4.2730/2780 against Thursday’s close of 4.2770/280 A dealer said the Federal Reserve’s decision to pause a further hike in US interest rates lifted sentiment for the local note. Against other major currencies, the ringgit was traded higher. It rose against the Singapore dollar to 3.0848/0886 from 3.0872/0911 on Thursday, increased against the British pound to 5.5147/5216 from 5.5396/5460 Thursday. The ringgit appreciated against the yen to 3.8217/8275 from 3.8222/8262 and rose against the euro to 4.7875/7944 from 4.8005/8047 on Thursday. -- BERNAMA