Ringgit opens higher against US dollar
At 9.01am, the local currency improved to 4.4470/4500 versus the greenback from Tuesday’s close of 4.4480/4510. — Picture by Hari Anggara
Wednesday, 20 Jul 2022 10:29 AM MYT
KUALA LUMPUR, July 20 — The ringgit continued yesterday’s upbeat momentum to open higher today, responding to the positive news globally, a dealer said.
At 9.01am, the local currency improved to 4.4470/4500 versus the greenback from Tuesday’s close of 4.4480/4510.
SPI Asset Management managing partner Stephen Innes said the better ringgit performance took cues from reports that Russian gas would flow via Nord Stream 1 after the maintenance period ends on Thursday.
“This has temporarily alleviated some more deeper recession risks and the markets have cheered this news. However, a bigger ringgit rally expectations will likely be deferred until China moves out of lockdown,” he told Bernama.
The ringgit traded mostly higher against a basket of…
