Ringgit opens higher against US dollar, boosted by oil price hikes

KUALA LUMPUR – The ringgit opened higher against the US dollar today, boosted by higher oil prices as the greenback retreated, an analyst said.

At 9am, the local note was traded at 4.4195/4260 against the greenback compared with 4.4220/4265 at the close last Friday.

Meanwhile, Bursa Malaysia retreated from its gains last week to open lower today due to cautious sentiments on the local bourse, taking its cue from the negative Wall Street performance last week, an analyst said.

At 9.10am, the benchmark FTSE Bursa Malaysia KLCI eased by 0.20% or 2.90 points to 1,475.64 from last Friday’s closing of 1,478.54.

The market bellwether opened 1.82 points lower at 1,476.72.

On the broader market, decliners led advancers 174 versus 123, while 276 counters were unchanged, 1,672 untraded, and 19 others suspended.

Turnover stood at 242.28 million units worth RM86.02 million. – Bernama, December 19, 2022