KUALA LUMPUR, Nov 1 — The ringgit ended the week higher against the US dollar today, amid strengthening manufacturing activity in October, said a dealer.
At 6pm, the ringgit was quoted at 4.1640/1670 against the greenback from 4.1775/1795 at close yesterday.
US-based critical information, analytics and solutions provider IHS Markit Ltd reported that the underlying trend within Malaysia's manufacturing sector gained traction at the start of the fourth quarter, with the headline index picking up to a six-month high.
According to its, the headline PMI, a composite single-figure indicator of manufacturing performance, increased to 49.3 in October from 47.9 in September, its highest level for six months and reviving to sit broadly in line with a historical average.
IHS Markit chief business economist Chris Williamson said welcome signs of manufacturing turning a corner started to appear in October, hinting that the pace of economic growth could accelerate in the fourth quarter.
Meanwhile, the local note traded higher against other major currencies today.
The ringgit strengthened against the Singapore dollar to 3.0649/0683 from 3.0670/0689 yesterday and advanced against the yen to 3.8538/8569 from 3.8570/8599.
It increased against the British pound to 5.3915/3963 from 5.4044/4087 and improved against the euro to 4.6420/6470 from 4.6629/6668. — Bernama
