THE ringgit was slightly stronger against the US dollar this morning due to mild demand for the domestic note.
At 9.29am, the local currency stood at 4.485/4885 against the greenback from Tuesday’s close of 4.4865/4900.
A dealer said demand for the domestic currency was still weak as investors are still favouring safe-haven assets such as the US dollar due to the increasing uncertainties around the US’ and the world’s economy.
Meanwhile, the ringgit was traded lower against a basket of major currencies.
The local note depreciated against the euro to 4.4612/4647 from 4.4551/4586 at Tuesday’s close and fell against the British pound to 5.2977/3018 from 5.2833/2874 yesterday.
It also declined vis-a-vis the Japanese yen to 3.2771/2799 from 3.2662/2690 on Tuesday and slipped against the Singapore dollar to 3.2162/2192 from 3.2141/2170 previously. — Bernama / pic Bloomberg