Ringgit Opens Higher Against US Dollar

KUALA LUMPUR, Sept 13 (Bernama) -- The ringgit opened higher against the US dollar Thursday as buying interest increased on the back of higher oil prices. At 9 am, the ringgit strengthened to 4.1390/1420 against the greenback from 4.1420/1470 at Wednesday's closing. OANDA Head of Trading in Asia-Pacific Stephen Innes said although the local note had opened firmer, investors remained cautious over higher interest rate hikes by the US Federal Reserve (Fed). "Investors are signalling that they expect the Fed to respond with tighter monetary policy," he told Bernama Thursday. The price of the benchmark Brent crude now stands at US$79.56 per barrel. Meanwhile, the ringgit traded mostly lower against other major currencies. It eased against the Singapore dollar to 3.0170/0203 from 3.0104/0151 on Wednesday and inched up against the yen to 3.7144/7181 from 3.7161/7210. It depreciated against the euro to 4.8149/8200 from 4.8018/8093 and was down against the British pound at 5.3997/4049 from 5.3979/4060. --BERNAMA