KUALA LUMPUR – The ringgit closed higher against the US dollar today, in line with regional currencies, said a dealer.
At 6pm, the local note was traded at 4.1320/1400 versus the greenback, compared with 4.1500/1550 at yesterday’s closing.
FXTM market analyst Han Tan said the Singapore dollar, Thai baht, and Malaysian ringgit have positive correlations with the yuan.
“Chinese yuan’s strong performance after returning from a week-long holiday encouraged regional currencies to explore more of their upside against the US dollar,” he told Bernama.
He said the undeterred expectations for an agreement over the next US fiscal stimulus package also ensured that the greenback stuck to its weakening bias while alleviating the pressures on Asian currencies.
Meanwhile, the ringgit was traded higher against other major currencies.
It rose against the Singapore dollar to 3.0474/0542 from 3.0553/0592 on Wednesday, and increased against the British pound at 5.3456/3576 from 5.3630/3699.
The local currency improved against the euro to 4.8741/8840 from 4.8796/8863 yesterday, and appreciated versus the yen to 3.9014/9101 from 3.9155/9209 previously. – Bernama, October 9, 2020
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