Ringgit rises above the US dollar

In this picture taken on January 29, 2007, Malaysian ringgit notes are displayed for a photograph in Kuala Lumpur, Malaysia. (Bloomberg)

The Malaysian ringgit had risen higher against the US dollar Monday morning, according to dealers the lift continued due to the buying support for the local unit.

At 9 a.m. (0100gmt), the local unit stood at 4.2790/2830 against the greenback compared with Friday's close of 4.2795/2835.

Bernama reported a senior trader saying that local players may want to check out money supply from the month of June as well as the country’s international reserves at the end of the first half of 2017, that will be released later on Monday, whereas the greenback is expected to remain under pressure by US political reservations and weak data this week.

However, compared against other currencies, the local note was traded lower.

The ringgit fell against the Singapore dollar to 3.1520/1562 from 3.1481/1522 on Friday and depreciated versus the yen to 3.8759/8799 from 3.8461/8514 on Friday.

It slipped by the euro to 5.0248/0312 from 5.0130/0185 on Friday and shrank to 5.6209/6279 from 5.5989/5045 on Friday against the British pound.