KUALA LUMPUR, May 31 — The ringgit ended higher against the US dollar today on improving risk appetite for the local currency, said a dealer.
At 6pm, the local note strengthened to 4.1220/1270 against the greenback from Friday’s close of 4.1320/1350.
The dealer said the ringgit’s performance was also helped by higher oil prices, with Brent crude jumping 1.09 per cent to US$69.47 per barrel as OPEC+, an alliance between the Organisation of Petroleum Exporting Countries (OPEC) and other key producers, were reportedly hinted to increase output in the next two months.
“However, the sentiment remains cautious ahead of the full movement control order from June 1 to June 14,” she added.
Meanwhile, the local note traded higher against a basket of major currencies.
The ringgit rose against the Singapore dollar to 3.1152/1194 from Friday’s 3.1213/1238, and strengthened vis-a-vis the euro to 5.0227/0304 from 5.0344/0385 at the end of last week.
The domestic unit appreciated against the yen to 3.7565/7621 from 3.7598/7629 last Friday and increased against the British pound to 5.8421/8508 from 5.8604/8651. — Bernama
