Ringgit opens firmer against US dollar

KUALA LUMPUR: The ringgit opened firmer against the US dollar today bolstered by mild commercial demand, dealers said.
At 9.10am, the local unit stood at 4.2190/2220 against the greenback from yesterday's close of 4.2220/2250.
A trader, however, said the local note was expected to move withing a tight range of around 4.22 level as investors were waiting for more clues on the market's direction.
"The ringgit may continue to find support from the expected positive sentiment over the 2018 Budget next week.
"Some pro-growth measures would help boost investor confidence to attract more private investments and increase foreign fund inflow to the country," he added.
The budget will be tabled by Prime Minister Datuk Seri Najib Abdul Razak in the Dewan Rakyat on Oct 27.
The local note, however, was traded mixed against other major currencies in the early trade today.
It appreciated against the yen to 3.7429/7466 from Thursday's 3.7466/7502 and rose against the British pound to 5.5505/5557 from 5.5536/5593 yesterday.
The local unit declined against the Singapore dollar to 3.1100/1129 from 3.1097/1123 on Thursday and eased against the euro to 5.0008/0052 from 4.9870/9923 previously. — Bernama