Ringgit opens stronger against US dollar

Ringgit opens stronger against US dollar

Traders optimistic Britain will remain in EU and spur appetite on riskier assets.

ringgit-dollar

KUALA LUMPUR:
The ringgit opened stronger against the US dollar today ahead of the outcome of Britain’s referendum on its European Union membership, dealers said.

At 9am, the local unit was quoted at 4.0075/0160 to the US dollar from 4.0150/0220 yesterday.

A dealer said traders were optimistic the world’s fifth largest economy would remain in the economic bloc and spur appetite on riskier assets including from emerging economies.

Results from the polling for the referendum are expected to be known between 10.30am and noon today.

The ringgit also traded higher against other major currencies.

It appreciated against the Singapore dollar to 2.9804/9886 from Wednesday’s close of 3.0028/0096 and rose against the Japanese yen (100) to 3.8098/8189 from 3.8406/8492.

The local unit was up against the British pound at 5.8161/8296 from 5.9342/9465 and strengthened against the euro to 4.5148/5256 from 4.5566/5666.

– BERNAMA

Stay current - Follow FMT on WhatsApp, Google news and Telegram

Subscribe to our newsletter and get news delivered to your mailbox.