The ringgit opened higher against the US dollar and most major currencies on Friday, supported by stronger demand for the local currency despite economic data that continued to show resilience in the United States.
At 8am, the ringgit strengthened to RM4.0820/4.0885 against the US dollar, compared with Thursday’s close of RM4.0830/4.0875.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the US Institute for Supply Management Manufacturing Purchasing Managers’ Index stood at 54.5 points in September, slightly below the 54.6 recorded the previous month.
He said the New Orders sub-index, however, showed stronger expected business activity, rising to 55.3 points from 53.7 previously.
“Initial jobless claims also fell further to 197,000 last week, while the four-week moving average continued to decline to 200,000,” he told Bernama.
Against other major currencies, the ringgit strengthened against the euro to RM4.5914/4.5987 from RM4.6015/4.6066 on Thursday.
It also gained against the British pound, rising to RM5.3870/5.3956 from RM5.3896/5.3955, but weakened against the Japanese yen to RM2.5844/2.5886 from RM2.5781/2.5811.
Among Asean currencies, the ringgit slipped against the Singapore dollar to RM3.1883/3.1936 from RM3.1856/3.1894 previously.
It also edged lower against the Thai baht to RM12.1207/12.1515 from RM12.1111/12.1294.
The local currency remained unchanged against the Philippine peso at RM6.50/6.51 and the Indonesian rupiah at RM227.20/227.60.
