Edited by: Sheera Abg Mansor
KUALA LUMPUR: The ringgit opened higher against the US dollar today on positive sentiment arising from the upcoming meeting between President Donald Trump and Chinese President Xi Jinping at G20 summit this Friday.
At 9 am, the ringgit was at 4.1430/1460 against the greenback from 4.1480/1510 at Friday’s close.
Based on MIDF Research as quoted in Bernama, the ringgit’s upward momentum was supported by firmer crude oil prices and the possibility of an interest rate cut by the US Federal Reserve in the coming months.
It said, ringgit maintained at an average of 4.12 and register year-end target at 4.10 in 2019.
At 9 am, oil benchmark Brent Crude climbed to US$64.47 per barrel compared with US$64.10 per barrel last Friday.