KUALA LUMPUR – The ringgit rebounded to open slightly higher against the US dollar today on renewed demand as the oil price rose, said a dealer.
At 9.05am, the local currency stood at 4.1620/1670 versus the greenback compared with 4.1630/1670 at yesterday's close.
The dealer said the improved ringgit was also due to uncertainty over the local political scenario which has abated.
As at time of writing, benchmark Brent crude rose 0.27% to US$40.57 (RM168.95) per barrel.
The local bourse opened lower almost across the board, tracking the performance of other Asia’s stocks following the sharp decline of Wall Street yesterday.
At 9.05am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) declined 2.62 points to 1,491.99 from 1,494.61 at Monday’s close after opening 2.50 points lower at 1,492.11.
On the overall market, losers took a head start from losers 212 against 137 while 264 counters were unchanged, 1,558 untraded and 42 others suspended.
Total volume stood at 286.05 million units worth RM146.28 million. – Bernama, October 27, 2020
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