KUALA LUMPUR: The ringgit rose against the US dollar in the early session on better demand for the local note due to bargain hunting activities, following yesterday’s decline.
At 9.08am, the ringgit was quoted at 4.3220/3320 against the US dollar from 4.3300/3400 at the close yesterday. A dealer said investors’ interest shifted towards the ringgit because of worrying numbers coming out of the US, which now leads the world in the total number of Covid-19 infections and deaths.
“The ongoing improvement in global investor risk sentiment in the near-term combined with the US Federal Reserve’s aggressive policy response is beginning to weigh down more on the greenback,” he added.It declined vis-a-vis the Singapore dollar to 3.0561/0643 from 3.0558/0639 and weakened against the yen to 4.0325/0426 from 4.0290/0395 yesterday.
The local note was lower against the British pound at 5.4505/4648 from 5.4342/4489 and decreased against the euro to 4.7464/7583 from 4.7388/7514.