Ringgit extends gains against greenback at opening

KUALA LUMPUR: The ringgit opened higher against the greenback for the third consecutive trading day on expectation that the US Federal Reserve’s Open Market Committee (FOMC) would downshift interest rate hikes from 50 basis points (bps) to 25 bps at its meeting next week, said an analyst.

At 9 am, the local note further appreciated to 4.2510/2600 against the US dollar from Wednesday’s closing of 4.2575/2625.