Ringgit opens higher despite US Fed asset purchase tapering

KUALA LUMPUR: The ringgit opened slightly higher against the US dollar despite better sentiment for the greenback following the latest announcement by the US Federal Reserve (Fed) that it would taper its asset purchase programme.

This confirms that Fed has become more sanguine on the economic outlook, said Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid.