The ringgit opened with a new nine-year high against the U.S. dollar amid brisk demand for the local currency, said dealers.
At 9.00 am, the ringgit appreciated at 3.4920/4940 as against 3.4930/4940 at yesterday’s closing.
Dealers said Malaysia’s positive economic fundamentals and weaker greenback ahead of the Group of Seven (G7) Finance Ministers’ meeting in Germany this week lifted the ringgit this morning.
The local unit was also higher against Asian currencies. It rose against the Singapore dollar at 2.2771/2799 from 2.2793/2814 and gained against the yen at 2.8919/8941 from 2.8964/8986 previously.
Against the British pound, the ringgit was little changed at 6.8789/8849 from 6.8788/8828 while against the euro, it depreciated at 4.5448/5485 from 4.5332/5349 at yesterday’s closing.