Ringgit closes higher against US dollar

As of 6pm, the local note stood at 4.3280/3350 compared with yesterday’s close of 4.3300/3400. — Reuters pic
As of 6pm, the local note stood at 4.3280/3350 compared with yesterday’s close of 4.3300/3400. — Reuters pic

KUALA LUMPUR, March 27 — The ringgit remained on the uptrend against the US dollar for the fourth consecutive day today, as more investors shifted their interest towards the emerging currencies, dealers said.

As of 6pm, the local note stood at 4.3280/3350 compared with yesterday’s close of 4.3300/3400.

A dealer said the local note was on the upswing as a series of stimulus measures around the world, including a massive US$2.2 trillion (RM9.5 trillion) US package provided optimism in the global financial markets.

Meanwhile, the ringgit traded lower against a basket of major currencies.

It fell slightly against the Singapore dollar at 3.0175/0234 from 3.0069/0149 at yesterday’s close and slipped vis-a-vis the euro to 4.7608/7702  from 4.7396/7510 yesterday.

It had weakened against the Japanese Yen to 3.9754/9829 from 3.9342/9444 and depreciated against the British pound to 5.2841/2943 from 5.1601/1737 yesterday. — Bernama

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