July 13: Ringgit opens higher against US dollar

 Publish date: Thu, 13 Jul 2017, 02:06 PM

KUALA LUMPUR: The ringgit opened higher against the US dollar today as the greenback retreated after US Federal Reserve Chair Janet Yellen's congressional comments which sparked a significant decline in US Treasury yields.

At 9.08am, the local note stood at 4.2860/2900 against the greenback, compared with Wednesday's close of 4.2920/2950.

However, gains were capped by a slight decline in oil prices. The benchmark Brent crude traded 0.23 per cent lower at US$47.63 per barrel.

The ringgit, however, traded mostly lower against other major currencies. It slipped against the Singapore dollar to 3.1128/1168 from 3.1061/1092 on Wednesday, and eased against the yen to 3.7862/7901 from 3.7835/7865 on Wednesday. It declined against the pound to 5.5294/5358 from 5.5165/5208 yesterday, but strengthened against the euro to 4.9002/9060 from Wednesday's 4.9178/9216. -- BERNAMA

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