BERNAMA – The ringgit continued its positive movement to open marginally higher against the US dollar yesterday on the back of a slight retracement of the greenback against major currencies.
However, the US dollar continues to appeal as a safe-haven currency and would see upside pressure following the uncertainties in Russia over the weekend and concerns over global growth and the expectation of more monetary tightening policy from the United States Federal Reserve, dealers said.
The ringgit was also traded mostly higher against other Asean currencies.
The ringgit went up against the Singapore dollar to 3.4508/4555 versus 3.4536/4575 at Monday’s close and advanced against the Thai baht to 13.2531/2754 from 13.2733/2954 yesterday.
It gained versus the Indonesian rupiah to 310.9/311.5 from 311.0/311.5 but was unchanged against the Philippine peso at 8.39/8.40.
