Malaysian Ringgit Higher Against US Dollar At Opening

KUALA LUMPUR, June 28 (Bernama) -- The Malaysian ringgit opened higher against the US dollar on Wednesday supported by improved crude oil prices, dealers said. At 9 am, the local unit stood at 4.2840/2880 against the greenback from 4.2865/2895 last Friday. A dealer said oil prices rose almost two per cent following the weaker greenback on news that US crude inventories were running low for a third consecutive week. “The dollar slipped to its 10-month low versus the euro after the European Central Bank planned to reduce its stimulus,”the dealer said adding that investors shifted their interest to other currencies including the ringgit. Against a basket of major currencies, the local note was traded mixed. It appreciated against the Singapore dollar to 3.0891/0940 from Friday's 3.0912/0944 and strengthened against the yen to 3.8189/8238 from 3.8541/8578. The local unit eased against the British pound to 5.4895/4959 from 5.4537/4584 last Friday and fell against the euro to 4.8581/8630 from 4.7880/7918 previously. -- BERNAMA​