KUALA LUMPUR, May 27 — The ringgit extended earlier gains to close higher against the US dollar today, as more investors shifted towards emerging currencies, including the ringgit due to concerns over the US-China trade dispute, a dealer said.
At 6 pm, the ringgit rose to 4.1850/1880 against the greenback compared with 4.1870/1900 at Friday’s close.
He said that the weaker economic data released by the US last week, also added to the greenback retreat.
The US Purchasing Managers Index (PMI) last week showed that orders for US-made capital goods declined, further evidence that manufacturing and the broader economy are slowing due to the current trade dispute.
The ringgit, meanwhile, traded mixed against a basket of major currencies.
It was easier against the Singapore dollar at 3.0447/0474 from Friday’s 3.0404/0431 and depreciated against the Japanese yen to 3.8226/8268 from 3.8178/8216.
The local unit strengthened vis-a-vis the British pound to 5.3116/3167 from 5.3158/3213 and appreciated against the euro to 4.6839/6889 from 4.6844/6894. — Bernama
