Kuala Lumpur: The ringgit opened slightly higher against the US dollar and a basket of major currencies on Tuesday, supported by improved market sentiment amid easing global oil prices and geopolitical developments.
At 8am, the ringgit edged up to 4.0750/4.0805 against the greenback from Monday’s close of 4.0755/4.0800.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said Brent crude oil prices fell 3.4% to US$100.34 per barrel, following satellite data showing that Saudi Arabia had shifted its oil exports via the Strait of Hormuz after the East-West pipeline shut down.
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