Ringgit edges up against US dollar at opening
The US dollar index gained 0.23 per cent to 102.167 points, while the ringgit recorded mixed movements against regional currencies.
The ringgit recorded a small opening gain on Oct 6, with its US dollar rate at 4.0835/0895 at 8 am, compared with the previous close of 4.0845/0890. Expectations of higher US interest rates continued to support the greenback.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid told Bernama that the US dollar index (DXY) had climbed 0.23 per cent to 102.167 points. He expected the ringgit's trading range to remain narrow and said demand for the dollar had increased as some investors sought safer assets amid global uncertainty.
Among major currencies, the yen rate improved to 2.5847/5886 from 2.5858/5886, while the pound rate strengthened to 5.3976/4055 from 5.4022/4081. The euro rate, however, weakened to 4.5805/5872 from 4.5775/5825.
Regional trading was mixed: the ringgit's Thai baht rate strengthened to 12.1151/1390 from 12.1234/1411, but its Singapore dollar rate slipped to 3.1907/1957 from 3.1905/1943. Rates for the Philippine peso and Indonesian rupiah stayed unchanged at 6.52/6.53 and 227.9/228.3, respectively.
