Malaysia: Ringgit opens higher as Omicron fears recede

KUALA LUMPUR, Dec 24 ― The ringgit extended its uptrend today as reduced Omicron fears helped boost risk appetite.

At 9.05am, the local note stood at 4.1960/2010 versus the greenback compared with 4.1980/2020 at yesterday’s close.

Data show that Omicron has lower risk of hospitalisation while its patients have also suffered milder symptoms.

A trader said improved sentiment is likely to provide support for the ringgit to hover at current level.

Domestically, Deputy Health Minister Datuk Dr Noor Azmi Ghazali yesterday said the acceptance rate of the Covid-19 vaccine booster dose had been rated good, but the majority of recipients chose to take a booster shot of the same vaccine with the primary dose.

Meanwhile, the ringgit was traded mostly higher against a basket of other major currencies.

It appreciated against the British pound to 5.6235/6302 from 5.6257/6311 at Thursday’s close and was higher against the euro at 4.7516/7572 from 4.7521/7567 yesterday.

The local note increased versus the Japanese yen to 3.6672/6719 from 3.6721/6760 but fell vis-a-vis the Singapore dollar to 3.0905/0951 from 3.0874/0908 previously. ― Bernama