Ringgit rebounds to open higher against USD

KUALA LUMPUR: The ringgit rebounded to open higher against major currencies, including the US dollar today, as investors shifted their interest to the local note, a dealer said.

 

At 9am, the ringgit was quoted at 4.2440/2530 against the greenback from 4.2615/2665 on Monday. However, the dealer said investors are closely watching China's manufacturing Purchasing Managers Index data due later, amid worries about slowing growth in the country. 

Meanwhile, Forex Time Research Analyst Lukman Otunuga said the renminbi which has been included in the International Monetary Fund's exclusive Special Drawing Rights basket of currencies, has a low immediate impact on the economy of China itself.