Ringgit closes higher against US dollar

KUALA LUMPUR, Feb 14 — The ringgit closed sharply higher against the US dollar today on the back of the stronger 5.9 per cent economic growth recorded in 2017, a dealer said.

At 6pm, the local note strengthened against the greenback to 3.9170/9210 from 3.9370/9400 on Tuesday.

Malaysia’s gross domestic product jumped by 5.9 per cent in 2017 against 4.2 per cent in 2016 while current account surplus widened slightly to RM12.9 billion in the fourth quarter last year, accounting for 3.7 per cent of gross national income.

The ringgit also stronger against a basket of major currencies.

It appreciated against the Singapore dollar to 2.9654/9705 from Tuesday’s 2.9760/9792 and rose against the yen to 3.6441/6488 from 3.6569/6600 yesterday.

The local unit increased against the British pound to 5.4325/4400 from 5.4653/4715 yesterday and went up against the euro to 4.8383/8444 from 4.8476/8517 on Tuesday. — Bernama