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Ringgit opens sharply higher against US dollar

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Ringgit opens sharply higher against US dollar Empty Ringgit opens sharply higher against US dollar

Post by Cals Thu 03 Oct 2013, 10:14

Ringgit opens sharply higher against US dollar
Business & Markets 2013
Written by Bernama   
Thursday, 03 October 2013 09:49
KUALA LUMPUR (Oct 3): The ringgit opened sharply higher against the US dollar in early trading today, with investor appetite more inclined towards emerging Asian currencies, a dealer said.
The local note was quoted at 3.1990/2020 to the US dollar from 3.2255/2285 at Wednesday's close.
The dealer said the weakening greenback was due to worries over the length of the US government shutdown and the coming debt-ceiling battle.
The ringgit was also seen trading sharply higher against other major currencies in the early session today.
The local note appreciated against the yen to 3.2864/2902 from 3.3123/3160 yesterday, and was higher against the Singapore dollar at 2.5629/5655 from 2.5755/5787 on Wednesday.
The local currency strengthened against the British pound to 5.1907/1968 from 5.2282/2344 yesterday, and rose against the euro to 4.3452/3499 from 4.3644/3691 previously.
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