Monday, February 15, 2016

Ringgit opens higher against US dollar early Monday

The ringgit rebounded from last Friday's weaker close to open higher against the US dollar early Monday, lifted by stronger oil prices, dealers said.

At 9am, the ringgit was traded at 4.1545/1605 from 4.1650/1750 on last Friday.

A dealer said sentiment in the global foreign exchange and equity markets was positive after the United Arab Emirates raised hopes of a coordinated oil production cut, sending prices to a better level, with a 12 per cent jump seen last Friday.

The ringgit also traded higher against other major currencies.

It rose against the Singapore dollar to 2.9722/9780 from the 2.9831/9918 registered on Friday, and strengthened versus the yen to 3.6642/6711 from 3.6979/6081.

The local unit appreciated vis-a-vis the Euro to 4.6676/6747 from 4.6973/6102 and expanded against the British pound to 6.0282/0373 from 6.0422/0583.

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