KUALA LUMPUR: The ringgit opened higher against the US dollar for the eighth consecutive trading day today, reflecting continued positive momentum in the local currency at the start of trading.

At 8am, the ringgit rose to 4.0855/4.0915 against the US dollar from Tuesday’s close of 4.0865/4.0900.

Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said optimism in the financial market, driven by the artificial intelligence (AI)-related theme, continued to dominate global equities, providing support for the Malaysian currency.