Ringgit Higher Against US Dollar In Early Session

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The ringgit regained some of its lost ground yesterday to trade higher against the US dollar in the early session today, as lack of fresh leads kept investors away from the safe-haven currencies, dealers said.

As at 9.01 am today, the local note was quoted at 4.3450/3530 compared with yesterday’s close of 4.3505/3555.

A dealer said investors were closely monitoring the situation after the United States lifted its COVID-19 shutdown, with the focus turned to whether small to mid-sized businesses are resilient enough to reopen their operations and can find enough business to survive.

Against a basket of other benchmark currencies, the local note traded mostly higher.

The local currency rose against the Singapore dollar to 3.0715/0774 from 3.0724/0761 yesterday and went up versus the Japanese yen to 4.0329/0414 from 4.0395/0452.

The ringgit fell against the euro to 4.7656/7757 from 4.7634/7701 but edged higher against the British pound to 5.3044/3154 from 5.3359/3438 previously.


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