The ringgit continued its upward momentum last week to open higher against the US dollar today. — Reuters pic
KUALA LUMPUR, July 15 — The ringgit continued its upward momentum last week to open higher against the US dollar today, spurred by improved buying interest for the local unit, said a dealer.
At 9.05am, the local note stood at 4.1070/1120 versus the greenback compared with Friday’s close of 4.1140/1170.
He said the higher ringgit was also driven by the rise in global oil prices.
At press time, the benchmark Brent crude futures rose to US$66.74 (RM274.47) per barrel.
“Meanwhile, investors are staying on the sidelines awaiting China’s second-quarter economic data to be released along with other key economic indicators today,” he said.
However, the local note traded lower against a basket of major currencies.
It slid slightly against the Singapore dollar to 3.0247/0274 from Friday’s close of 3.0217/0251 and fell against the yen to 3.8084/8123 from 3.7910/7954.
The local currency depreciated versus the British pound to 5.1613/1659 from 5.1511/1586 and slipped against the euro to 4.6298/6336 from 4.6273/6323. — Bernama