Kuala Lumpur:The ringgit opened higher against the US dollar and most major currencies on Friday, driven by increased demand for the Malaysian currency despite the presence of strong US economic data that bolstered the greenback.

According to BERNAMA News Agency, the ringgit was trading at 4.0820/0885 against the US dollar at 8 am, compared to Thursday's close of 4.0830/4.0875. This appreciation comes amidst US economic indicators showing positive trends.

Bank Muamalat Malaysia Bhd's chief economist, Dr. Mohd Afzanizam Abdul Rashid, noted that the US Institute for Supply Management (ISM) Manufacturing Purchasing Managers' Index (PMI) recorded 54.5 points in September, slightly down from 54.6 points in the previous month. The New Orders sub-index indicated strong business activity, rising to 55.3 points from 53.7 points earlier.

Additionally, initial jobless claims in the US decreased to 197,000 last week, with the four-week moving average also falling to 200,000. Despite these positive US economic signals, the ringgit managed to appreciate against several major currencies.

The ringgit rose against the euro to 4.5914/5987 from 4.6015/6066 at Thursday's close and strengthened against the British pound to 5.3870/3956 from 5.3896/3955. However, it depreciated against the Japanese yen to 2.5844/5886 from 2.5781/5811.

In terms of ASEAN currencies, the ringgit weakened against the Singapore dollar to 3.1883/1936 from 3.1856/1894 and edged down against the Thai baht to 12.1207/1515 from 12.1111/1294. The ringgit maintained its position against the Philippine peso at 6.50/6.51 and the Indonesian rupiah at 227.2/227.6.