Ringgit opens higher as oil prices rise

KUALA LUMPUR – The ringgit was slightly higher against the US dollar at the opening today, boosted by buying interest in the local note amid improving crude oil prices, a dealer said.

At 9am, the local note was traded at 4.4320/4350 against the greenback compared with 4.4375/4405 at the close yesterday.

Meanwhile, Bursa Malaysia rebounded to open slightly higher today, tracking Wall Street’s rally overnight amid improving consumer confidence, said an analyst.

At 9.15am, the benchmark FTSE Bursa Malaysia KLCI rose by 0.18% or 2.57 points to 1,465.12 from yesterday’s closing of 1,462.55.

The market bellwether opened 1.24 points better at 1,463.79.

On the broader market, advancers led decliners 229 versus 123, while 238 counters were unchanged, 1,674 untraded, and 22 others suspended.

Turnover stood at 353.75 million units worth RM104.16 million. – Bernama, December 22, 2022