Ringgit opens higher against US dollar

The ringgit opened higher against the US dollar today on short covering after the recent low, dealers said.

At 9am, the ringgit was quoted at 3.2290/2320 against the greenback from yesterday's 3.2350/2380.

A dealer said buying interest emerged for the ringgit after the local unit closed at an almost two-month low yesterday, following a sell-down in institutional funds.

Meanwhile, the ringgit was traded mixed against other major currencies.

It appreciated against the Singapore dollar to 2.5760/5805 from 2.5772/5798 on Wednesday, and strengthened against the Japanese yen to 3.1691/1733 from 3.1750/1795 previously.

The currency fell against the British pound to 5.2656/2711 from
yesterday's 5.2394/2455, and weakened against the euro at 4.3883/3930 from 4.3872/3920.