Ringgit hits 7-month high against US dollar in early trade

 Publish date: Fri, 18 Sep 2020, 10:03 AM

KUALA LUMPUR: The ringgit opened at a seven-month high against the US dollar in early trade today as the weakening greenback spurred demand for emerging currencies and riskier assets, dealers said.
At 9am, the local currency was quoted at 4.1220/1280 versus the US dollar, compared to 4.1370/1400 at Thursday's close.
Meanwhile, the ringgit was traded mostly higher against other major currencies.
It appreciated versus the Singapore dollar to 3.0398/0454 from 3.0433/0459 on Wednesday, increased against the Japanese yen to 3.9355/9416 from 3.9483/9523, and weakened against the British pound to 5.3528/3614 from 5.3669/6729.
The domestic unit, however, fell vis-a-vis the euro to 4.8875/8958 from 4.8812/8852previously.
 - Bernama


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