Malaysian Ringgit Opens Broadly Higher Against US Dollar

KUALA LUMPUR, Oct 19 (Bernama) -- The Malaysian ringgit opened broadly higher against the US dollar and other major currencies on Wednesday on renewed demand for the domestic unit, a dealer said. At 9.25 am, the ringgit was quoted at 4.1830/1890 to the greenback against Tuesday's 6 pm close of 4.1925/1975. The dealer said the ringgit's rebound was on the back of oil prices being traded steady in Asia time, while the US dollar retraced due to a release of a downbeat US data. "The latest release of US consumer prices showed that inflation had slightly moderated, and players thus, trimmed bets on a year-end US Federal Reserve rate hike," he added. The local currency rose against the Singapore dollar to 3.0183/0245 from 3.0240/0281 on Tuesday and strengthened against the Japanese yen to 4.0303/0380 from 4.0332/0388. The ringgit also traded higher against the British pound at 5.1443/1529 from 5.1517/1600 and gained against the euro to 4.5975/6045 from 4.6201/6261. --BERNAMA