The ringgit opened higher against the US dollar for a 12th consecutive day, trading at RM4.0425/0565 in a holiday-shortened week
KUALA LUMPUR: The ringgit extended its gains on Monday, opening higher for a 12th consecutive session.
At 8 am, the local note strengthened to 4.0425/0565 against the US dollar from Friday’s close of 4.0470/0535.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said trading is expected to be range-bound in a holiday-shortened week.
“Therefore, we expect the US dollar-ringgit to range around RM4.04-RM4.05 today,” he told Bernama.
The ringgit traded mostly higher against other major currencies.
It appreciated against the Japanese yen to 2.5855/5948 from 2.5866/5909.
The local unit strengthened versus the euro to 4.7592/7757 from 4.7629/7706 and was flat against the British pound at 5.4570/4759.
The ringgit also firmed against ASEAN currencies.
It rose against the Singapore dollar to 3.1474/1588 from 3.1497/1550.
The currency gained versus the Thai baht to 12.9913/13.0451 from 13.0212/0484.
It improved against the Indonesian rupiah to 241.3/242.4 from 241.6/242.2 and was up against the Philippine peso to 6.88/6.91 from 6.89/6.90.