KUALA LUMPUR: The ringgit rebounded to open higher against the US dollar today on renewed buying interest for the local unit, said a dealer.
At 9.15am, the local currency was quoted at 4.1560/1610 against the greenback from 4.1630/1680 last Friday.The dealer said the greenback’s performance was attributed to a comment made by Federal Reserve chairman Jerome Powell last week. He revealed a new approach to setting the US monetary policy, letting inflation and employment run higher in a shift that will likely keep interest rates low for years to come.It went up against the Singapore dollar to 3.0559/0607 from last Friday’s 3.0581/0629 and was higher against the yen at 3.9282/9340 from 3.9393/9444 previously.
The ringgit depreciated against the British pound to 5.5566/5637 from 5.5251/5322 last Friday and rose against the euro to 4.9660/9736 from 4.9486/9562.
Source: Loan Digest (loandigest.net)
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