Ringgit Traded Higher amid Global Economic Slowdown Concerns

KUALA LUMPUR, March 23 (Bernama) -- The ringgit was traded higher against the US dollar in the early session Friday against heightened concerns over the global economic slowdown. At 9.41 am, the local currency was quoted at 3.0760/0780 per US dollar against 3.0805/0835 at 5pm yesterday. A dealer said improving risk sentiments supported the ringgit to perform better. "The global market is cautious on growth concerns triggered by weak manufacturing data from both China and the euro zone," he said. Against other major currencies, the ringgit fell against the Singapore dollar to 2.4364/4388 from 2.4346/4379 yesterday and weakened against the yen to 3.7190/7223 from 3.7150/7213 Thursday. It however rose against the British pound to 4.8672/8712 from yesterday's 4.8823/8880 close and declined against the euro to 4.0612/0642 from 4.0539/0585 Thursday. -- BERNAMA