Ringgit opens higher against US$ ahead of BNM annual report

At 9am, the ringgit bounced to 4.3850/3900 versus the US dollar.

At 9 am, the local note bounced to 4.3850/3900 versus the greenback compared with Monday's closing rate of 4.4190/4240.

"The investors are cautious on whether Malaysia is impacted by the crisis and what is the status of our local banks due to the global crisis," he told Bernama. "It appears that support from authorities to provide the backstop and acquisition of the troubled banks by other financial institutions indicates that the current problems are contained.

ActivTrades trader Dyogenes Rodrigues Diniz said the US dollar edged down by 0.16 per cent against the ringgit yesterday due to a lack of direction as investors were seemingly in wait-and-see mode ahead of the release of US consumer confidence data.

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