KUALA LUMPUR, Aug 16 — The ringgit ended higher against the US dollar today as more economic activities are allowed to resume operation and this move somewhat offsets the country’s latest political development, a dealer said.

At 6pm, the local note stood at 4.2350/2390 versus the greenback from Friday’s close of 4.2365/2385.

Bank Islam Malaysia Bhd economist Adam Mohamed Rahim said the reopening of more economic activities on Monday has help cushioned the ringgit from falling down.

"The relaxation of movement restrictions for fully vaccinated individuals helps to limit the downward pressure on the ringgit, stemming from the latest political situation,” he said.

On Sunday, the government announced that 11 types of business activities in the trade and distribution sectors can resume operation under Phase One of the National Recovery Plan (NRP) effective today.

"As for the latest political development, perhaps traders will likely remain on the sideline until the next prime minister is made known,” added Adam.

Meanwhile, the local note was traded lower against a basket of major currencies.

It declined against the Singapore dollar to 3.1227/1259 from 3.1187/1207, and fell against the Japanese yen to 3.8732/8769 from 3.8409/8427 at Friday’s close.

The ringgit depreciated vis-a-vis the euro to 4.9893/9940 from 4.9775/9798 at the end of last week and eased against the British pound at 5.8680/8736 from 5.8476/8504 previously. — Bernama