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Ringgit opens higher against US dollar
Bank Negara Malaysia's decision to maintain the overnight policy rate at 3.25% at its Monetary Policy Committee meeting yesterday is helping the ringgit's position. – The Malaysian Insider file pic, March 10, 2016. The ringgit opened higher against the US dollar this morning on improved demand and in line with the recovery of oil prices.
At 9.11am, the local unit was quoted at 4.1185/1245 to the US dollar against 4.1250/1349 at 5pm on Wednesday.
Bank Negara Malaysia's decision to maintain the overnight policy rate at 3.25% at its Monetary Policy Committee (MPC) meeting yesterday also helped the ringgit's position.
Meanwhile, the ringgit also strengthened against other major currencies. It appreciated against the Singapore dollar to 2.9769/9834 from 2.9788/9863 yesterday and rose against the euro to 4.5238/5316 from 4.5272/5397.
It was also higher against the British pound at 5.8483/8593 from 5.8633/8786 and advanced against the yen to 3.6338/6400 from 3.6660/6758. – Bernama, March 10, 2016.
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