Ringgit opens marginally higher against US dollar

KUALA LUMPUR: The ringgit extended yesterday's gains to open marginally higher against the US dollar today on persistent buying interest for the local unit amid the firmer US dollar, dealers said.
At 9am, the local unit traded at 4.0740/0770 against the greenback from 4.0750/0780 on Monday.
A dealer said sentiment for the ringgit remained positive backed by expectation that Bank Negara Malaysia will raise interest rates next year.
"Although the US dollar is on the rise, ahead of the US Federal Reserve's meeting later this week, local sentiment for the ringgit will continue be weighed by local factors," he said.
Against a basket of major currencies, the ringgit was traded mostly higher.
It rose against the Singapore dollar to 3.0151/0178 from 3.0163/0192 on Monday and advanced against the yen to 3.5888/5918 from 3.5941/5974 yesterday.
The ringgit also strengthened against the British pound to 5.4368/4416 from Monday's 5.4487/4535 and appreciated against the euro to 4.7971/8019 from 4.8069/8116 yesterday. — Bernama