Ringgit Higher Versus Greenback

KUALA LUMPUR, Feb 23 (Bernama) -- The ringgit was higher at Thursday's opening on positive market sentiment that provided it the support, a dealer said. At 9 am, the local unit was traded at 4.4480/4520 against the greenback from 4.4510/4540 on Wednesday. A dealer said news that the oil price was expected to go up to US$70 per barrel has created a positive momentum and this has benefitted the oil exporting countries including Malaysia. "However, traders might keep their eyes open following the recently-concluded US Federal Reserve's policy meeting, which kept the prospect of a March rate increase intact," the dealer said. Against a basket of major currencies, the local note was traded mixed. It fell against the Singapore dollar to 3.1417/1450 from 3.1365/1406 on Wednesday and weakened versus the euro to 4.6931/6991 from 4.6776/6812 Wednesday. Vis-a-vis the yen, the ringgit rose to 3.9290/9336 from 3.9334/9371 yesterday, while versus the British pound it improved to 5.5311/5378 from 5.5366/5421 on Wednesday. -- BERNAMA