KUALA LUMPUR, Aug 25 — The ringgit closed higher against the US dollar today as market sentiment for the local note continued to be lifted by gains in global oil prices.
At 6pm, the local currency was quoted at 4.1680/1710 against the greenback from 4.1740/1790 yesterday.
In a note, OANDA Europe senior market analyst Craig Erlam said even though oil prices were a little flat today, the ringgit continued to trade near the upper end of its recent range.
“With the Gulf coast being hit by two tropical storms this week, it may come as a surprise that oil prices have not jumped a little more as they would have seen in the past,” he added.
Brent Crude was traded 0.53 per cent higher at US$45.37 (RM189) a barrel, while WTI Crude was pegged at US$42.62 a barrel.
Meanwhile, the ringgit rose against the Singapore dollar to 3.0443/0467 from 3.0487/0533 yesterday and gained against the yen to 3.9184/9223 from 3.9482/9533.
The ringgit strengthened against British pound to 5.4647/4703 from 5.4775/4858 yesterday and was higher against the euro at 4.9291/9343 from 4.9387/9458 previously. — Bernama
