KUALA LUMPUR: The ringgit opened higher against the US dollar today ahead of the announcement of Malaysia’s third quarter economic performance by Bank Negara Malaysia later today. At 9.01 am, the local unit was 50 basis points higher at 4.1700/1730 against the greenback from Thursday’s close of 4.1750/1780. A dealer said the buying sentiment for the ringgit was boosted by market expectation of better economic performance in the third quarter of 2017. Meanwhile, the ringgit was marginally higher against the Singapore dollar at 3.0768/0802 from 3.0769/0811 on Thursday but decreased against the yen to 3.6945/6982 from 3.6872/6908. The local unit depreciated against the euro to 4.9164/9208 from 4.9156/9208 and fell against the British pound to 5.5077/5134 from Thursday’s 5.5031/5079.

Source: New Strait Times November 17, 2017 01:52 UTC