Ringgit Closes Higher Against US Dollar

Pocket News
April 12, 2017
63 Views

KUALA LUMPUR, Apr 12 – The ringgit closed higher against the US dollar today as traders shifted their interests to Asian currencies, including the ringgit, on continued geopolitical tensions. At 6pm, the local unit stood at 4.4250/4300 against the greenback compared to 4.4310/4360 previously.

A dealer said the greenback continued to remain under pressure on the possibility of US military actions against North Korea and Syria. He said the rising global oil prices, which saw the international benchmark Brent crude futures up 0.3 per cent to US$56.40 per barrel, also supported the local note.

The ringgit, meanwhile was traded mostly lower against a basket of other major currencies. It fell against the Singapore dollar to 3.1580/1620 from 3.1551/1591 on Tuesday and eased against the British pound to 5.5295/5379 from 5.5020/5086 today. The ringgit fell against the yen to 4.0341/0401 from 4.0038/0094 today. It, however, rose against the euro to 4.6297/6989 from 4.6995/7053 on Tuesday. — Bernama

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