The ringgit reversed its losses to open higher against the US dollar on Friday, amid positive developments in the Asian foreign exchange market.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said risk appetite improved after attention appeared to have shifted towards the Japanese yen, as the Bank Of Japan is seen to be changing its rate course soon after remaining excessively accommodative.
At 9.15am on Friday, the ringgit had risen to 4.6660/6700 versus the greenback, compared with Thursday’s close at 4.6720/6765.
