business
Ringgit ends higher against dollar
Ringgit closes higher against the dollar on improving crude oil prices. – Reuters pic, March 4, 2016.The ringgit closed higher against the US dollar today, prompted by the better performance of emerging Asian equity markets and improving crude oil prices, dealers said.
At 5pm, the local unit was traded at 4.1175/1225 against the greenback compared with yesterday's 4.1310/1380.
Forex Time Ltd (FXTM) chief market analyst Jameel Ahmad said the movement of the local unit had shown some signs of benefiting from the attempt by oil prices to stabilise.
"The ringgit is also following through on a pause in the heavy sell-off in the equity markets," he added in a statement.
The price of the benchmark, Brent Crude, stood at US$37.10 (RM150) a barrel from yesterday's US$36.94 a barrel.
Another dealer said investors are now awaiting the release of the US non-payroll data later in the day which would give some clues on any interest rate hike timing.
The ringgit, however, traded mostly lower against other major currencies.
While appreciating against the yen to 3.6191/6251 from 3.6278/6352 yesterday, the local note fell against the Singapore dollar to 2.9789/9828 from 2.9638/9706.
It depreciated versus the British pound to 5.8209/8305 from 5.8074/8189 and weakened against the euro to 4.5033/5104 from 4.4925/4009. – Bernama, March 4, 2016.
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