Ringgit opens higher on improved risk sentiment

KUALA LUMPUR: The ringgit continued to open higher against the US dollar today, as regional risk sentiment improves on the heels of the signing of the Regional Comprehensive Economic Partnership (RCEP) last Sunday.

At 9.06 am, the local currency stood at 4.1040/1100 against the greenback, compared with yesterday’s close of 4.1140/1190.

Axi chief global market strategist Stephen Innes said the broader global markets -- including crude oil trading -- are reveling in the afterglow of COVID-19 vaccine optimism.

At 9.40 am, Brent crude oil rose by 0.71 per cent at US$44.13 per barrel.

Against other major currencies, the ringgit was traded mostly higher.

It rose against the Singapore dollar to 3.0518/0564 from 3.0562/0604 yesterday, improved against the yen to 3.9284/9345 from 3.9350/9405 and strengthened against the euro to 4.8678/8765 from 4.8722/8798.

However, the local note declined vis-a-vis the British pound to 5.4247/4334 from 5.4185/4268 on Monday. - Bernama
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Ringgit , Axi , Brent oil , vaccine


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