Ringgit Opens Flat Against US Dollar

KUALA LUMPUR, March 14 (Bernama) -- The ringgit was flat against the US dollar amid a steady dollar as the Federal Open Market Committee (FOMC) was widely expected to raise interest rates at its March 14-15 meeting. At 9 am, the local currency was unchanged at 4.4450/4500 against the greenback from 4.4450/4480 at 6pm Monday. A dealer said the dollar steadied after the market saw a high probability of the rate hike, especially after the jobs report released last Friday that showed a strong US employment. "Traders remained on the sidelines to see the outcome of the FOMC meeting," he said. The ringgit was traded mostly higher against a basket of major currencies, except with the British pound, which edged down to 5.4273/4352 from 5.4256/4301 Monday. The local note perked against the Singapore dollar to 3.1411/1460 from 3.1451/1484 on Monday and vis-a-vis the yen it increased to 3.8696/8756 from 3.8777/8813 yesterday. It improved against the Euro to 4.7357/7428 from 4.7397/7442 on Monday. -- BERNAMA