KUALA LUMPUR: The ringgit opened higher against the US dollar today on positive sentiment following an increase in oil prices, dealers said.

At 9am, the ringgit was quoted at 4.2850/2900 from 4.2900/2970 on Tuesday.

The dealer said oil prices rose on Tuesday ahead of potentially bullish inventory data and as traders moved to close out bearish bets before the end of 2015.

It was reported that the global benchmark, brent crude, rose US$1.06 or 2.9 per cent to US$37.87 a barrel on the New York Mercantile Exchange.

The ringgit was also higher against other major currencies.

Against the Singapore dollar, it rose to 3.0323/0380 from 3.0421/0488 yesterday and vis-a-vis the British pound, the local note strengthened to 6.3491/3586 from 6.3844/3957.

Compared to the euro, the ringgit improved to 4.6822/6881 from 4.7130/7211 while rising against the yen to 3.5551/5602 from 3.5631/5698. — Bernama