business
Ringgit opens higher against US dollar
The greenback trades at a week's low due to weaker US wages despite recording a strong employment growth. – Reuters file pic, March 7, 2016. The ringgit opened higher against the US dollar on fresh buying interest for the local note.
At 9.09am, the local unit was quoted at 4.0790/0850 per US dollar versus 4.1175/1225 at 5 pm last Friday.
A dealer said the greenback was traded at a week's low on Friday on the back of weaker US wages despite recording a strong employment growth.
"The market is of the view that the US Federal Reserve will gradually increase its interest rates this year," he added.
The ringgit was traded higher against other currencies.
It strengthened against the Singapore dollar to 2.9630/9680 from 2.9789/9828 on Friday and rose against the euro to 4.4840/4919 from 4.5033/5104.
It also appreciated against the British pound to 5.7971/8072 from last Friday's 5.8209/8305 and increased against the yen to 3.5919/5985 from 3.6191/6251 previously. – Bernama, March 7, 2016.
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