Ringgit higher against US dollar in early trade

KUALA LUMPUR: The ringgit was higher against the US dollar in early trade today as the weaker greenback boosted demand for other safe-haven and emerging currencies, dealers said.

At 9.05am, the ringgit was traded at 4.1750/1790 versus the greenback from 4.1830/1860 at Monday’s closing.

The local market was closed yesterday for Christmas.

A dealer said the US dollar was under pressure as Washington struggled with a partial government shutdown as well as an open confrontation between the central bank and the White House.

At the opening bell, the ringgit traded mixed against other major currencies.

It rose against the Singapore dollar to 3.0423/0459 from Monday’s 3.0451/0484 and strengthened versus the euro to 4.7599/7649 from 4.7661/7704.

The local currency, however, depreciated vis-a-vis the Japanese yen to 3.7738/7785 from 3.7651/7681 and weakened against the pound to 5.2997/3052 from 5.2907/2957 previously. — Bernama

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