Malaysia: The
ringgit closed higher against the US dollar and other major currencies today on
continued demand and in tandem with improved global oil prices and
emerging-market currencies.
At 6pm, the local unit was quoted at 4.2710/2740 against the
greenback, from Thursday's 4.2780/2810.
OANDA Senior Market Analyst Jeffrey Halley said the ringgit
strengthened as investors are closely monitoring the annual Jackson Hole
Economic Policy symposium in the United States today.
"With the ringgit continuing its rally against the US dollar along
with other emerging market currencies, we expect the greenback's weaknesses to
linger into next week," said Halley.
In addition, the benchmark Brent crude traded 0.63 per cent higher
at US$52.37 per barrel.
Against other major currencies, the ringgit rose against the yen
to 3.8980/8011 from 3.9111/9142 on Thursday, and strengthened versus the
Singapore dollar to 3.1397/1426 from 3.1419/1453 yesterday. It improved against
the euro to 5.0411/0455 from 5.0438/0482 on Thursday, and appreciated against
the British pound to 5.4801/4844 from yesterday's 5.4861/4904.
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