Ringgit appreciates against US dollar at close

At 6pm, the local currency strengthened to 4.1490/1520 versus the greenback from 4.1565/1595 at yesterday’s close. — Reuters pic
At 6pm, the local currency strengthened to 4.1490/1520 versus the greenback from 4.1565/1595 at yesterday’s close. — Reuters pic

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KUALA LUMPUR, Oct 22 ― The ringgit continued to appreciate against the greenback today, supported by the decline in the US Dollar Index to 93.374, said an analyst.

At 6pm, the local currency strengthened to 4.1490/1520 versus the greenback from 4.1565/1595 at yesterday’s close.

Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said overall, the ringgit was in a good state and further appreciation was likely as commodity prices had been supportive of the Malaysian economy.

“Good earnings reported by Wall Street companies also helped to increase the positive sentiment,” he told Bernama.

Meanwhile, the local note was also traded higher against a basket of major currencies at the close today.

The ringgit climbed against the Singapore dollar to 3.0825/0849 from 3.0908/0933 at yesterday’s close and rose versus the Japanese yen to 3.6436/6466 from 3.6441/6471 previously.

The local note improved vis-a-vis the British pound to 5.7269/7310 from 5.7360/7401 yesterday and appreciated against the euro to 4.8307/8342 from 4.8386/8421. ― Bernama

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