Ringgit strengthens against US dollar at opening following Moody's US credit downgrade

The ringgit opened higher today against the US dollar buoyed by Moody's recent downgrade of the US credit rating on concerns over rising debt.

At 8.03am, the local note appreciated to 4.2850/3140 versus the greenback from last Friday's close of 4.2900/2980.

Moody's Ratings has downgraded the US sovereign rating by one notch to Aa1 from AAA last Friday.

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