Ringgit Rebounds To Open Higher Against US Dollar

KUALA LUMPUR, March 2 (Bernama) -- The ringgit rebounded from yesterday’s losses to open higher against the US dollar Friday, as investors reacted on renewed concerns over the greenback's outlook, dealers said. At 9.15 am, the local note was quoted at 3.9120/9150 versus the greenback from Thursday’s 3.9270/9300. A dealer said that the US dollar retreated from its six-week high following US President Donald Trump's decision to impose tariffs on steel and aluminium. The local note, however, was traded mostly lower against a basket of major currencies. It depreciated against the Singapore dollar to 2.9600/9630 from Thursday’s 2.9577/9605, weakened against the yen to 3.6812/6851 from 3.6777/6822 and decreased against the euro to 4.7992/8041 from 4.7831/7875 Thursday. However, the ringgit rose against the British pound to 5.3888/3933 from 5.3953/3014 on Thursday. -- BERNAMA