KUALA LUMPUR: The ringgit opened marginally higher against the US dollar on Tuesday amid signs of progress in diplomatic talks between Washington and Tehran.
At 8am, the local note slightly rose to 4.0690/0750 against the greenback from Monday's close of 4.0695/0735.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said US-Iran diplomatic talks could lead to the reopening of the Straits of Hormuz.
Brent crude oil prices fell significantly by 8.12 per cent to US$104.21 per barrel.
