Ringgit opens higher amid mixed signals

KUALA LUMPUR: The ringgit opened higher against the US dollar today as foreign exchange market sentiments are expected to revolve around the Russia-Ukraine conflict as the signals are getting mixed, an economist said.

Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said however, higher crude oil prices could lend some support to the local currency as Brent crude climbed further to US$97 per barrel, signaling the ringgit could benefit as it could improve the government fiscal space.