KUALA LUMPUR – The ringgit closed unchanged against the US dollar today, supported by rising crude oil prices and gains in global stock markets.
At 6pm, the local currency was traded at 4.1500/1570 versus the greenback compared with 4.1500/1550 at yesterday’s closing.
Oanda Asia Pacific senior market analyst, Jeffrey Halley, said markets rallied impressively overnight due to US President Donald Trump’s return to the White House after three days of hospital treatment for coronavirus.
“Expectations have also lifted markedly as the Republicans and Democrats have agreed on a new fiscal stimulus package before the US elections,” he told Bernama today.
At press time, Brent crude oil rose 0.63% to US$41.55 (RM172) per barrel.
Meanwhile, the ringgit was traded mostly lower against other major currencies.
It slipped against the Singapore dollar to 3.0521/0577 from 3.0501/0540 on Monday, and declined against the British pound at 5.3821/3929 from 5.3743/3824.
The local currency fell against the euro to 4.8879/8974 from 4.8792/8854, and depreciated versus the yen to 3.9303/9373 from 3.9292/9347 previously. – Bernama, October 6, 2020
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