KUALA LUMPUR, Mar 27 – The ringgit closed higher against the US dollar today as it became among the most sought after currencies by investors as they shifted their interest from the greenback, a dealer said. At 6pm, the local unit stood at 4.4090/4130 against the greenback compared with 4.4230/4280 last Friday.
A dealer said the US dollar declined to a four-month low versus other major currencies as concerns arose on the prospects of a US public spending boost under President Donald Trump’s administration. The dealer said investors are questioning Trump’s ability to deliver his election campaign pledge and this has somewhat sent negative sentiment towards the greenback.
He said for now, interest from the safe-haven currency had shifted to Asian currencies including the ringgit. However, against the other major currencies, the local note was traded lower. It fell against the Singapore dollar to 3.1667/1703 from 3.1600/1651 and declined versus the British pound to 5.5496/5555 from 5.5248/5328 last Friday. The ringgit slipped against the euro to 4.7913/7960 from 4.7777/7849 and fell against the yen to 3.9976/9016 from 3.9789/9845 previously. — Bernama