KUALA LUMPUR, July 10 — The ringgit rebounded to end higher against the US dollar today due to improved buying interest for the local unit, said a dealer.
At 6pm, the local note stood at 4.1370/1400 versus the greenback compared with yesterday’s close of 4.1410/1440.
He said the local unit which was traded in the range between 4.1370 and 4.1405 throughout the day, received a boost following the rise in global oil prices.
At press time, benchmark Brent crude futures rose 1.81 per cent to US$65.32 per barrel, while US West Texas Intermediate (WTI) crude futures were up 1.99 per cent at US$58.98 per barrel.
“Meanwhile, most emerging Asian currencies were unchanged as investors stayed on the sidelines awaiting the US Federal Reserve meeting for clues on the US interest rate decision.
“Any outcome from the meeting will likely decide the market direction especially for Asian currencies in view of the uncertainties in the global market,” he said.
At the close, the ringgit traded mixed against a basket of major currencies.
It rose against the Japanese yen to 3.7985/7017 from 3.8022/8060 on Tuesday and strengthened versus the Singapore dollar to 3.0392/0426 from 3.0411/0444.
The ringgit, however, depreciated against the euro to 4.6425/6476 from 4.6392/6429 and fell against the pound to 5.1646/1700 from 5.1601/1647 previously. — Bernama
