Malaysian Ringgit Higher Against US Dollar This Morning

KUALA LUMPUR, March 11 (Bernama) -- The Malaysian ringgit rebounded from last week downtrend to opened higher against the US dollar on Monday morning amid an improved oil price and the softer greenback. At 9 am, the ringgit stood at 4.0860/0930 against the greenback from 4.0890/0930 at last Friday’s close. At press time, the international benchmark Brent crude up 0.09 per cent to US$65.80 per barrel while the US West Texas Intermediate (WTI) crude oil was 0.18 per cent firmer at US$56.17 per barrel. A dealer said the US dollar came under pressure last Friday following a weaker-than-expected payrolls data that sparked fresh concern over slower global growth. Against other major currencies, the ringgit was traded mixed. It rose against the Singapore dollar to 3.0051/0107 from 3.0064/0104 recorded on last Friday and strengthened versus the British pound to 5.2995/3090 from 5.3509/3577. The local unit, however, depreciated against the Japanese yen to 3.6844/6917 from 3.6798/6847 and contracted vis-a-vis the euro to 4.5878/5960 from 4.5842/6895. -- BERNAMA