KUALA LUMPUR, April 10 — The ringgit rebounded from yesterday’s losses to end higher versus the US dollar today, fuelled by the surging crude oil prices, dealers said.
At 6pm, it was quoted at 3.8670/8700 against the US dollar from Monday’s close of 3.8690/8730.
A dealer said the higher crude oil prices, where the benchmark Brent crude futures currently stood at US$68.55 (US$1 = RM3.86) per barrel, had supported the ringgit, as Malaysia, being a net exporter of oil and gas, was heavily dependent on the price movements of the commodity.
However, the local unit was traded lower against a basket of major currencies.
The ringgit depreciated against the Singapore dollar to 2.9492/9535 from Monday’s close of 2.9438/9477 and eased against the yen at 3.6130/6168 from yesterday’s 3.6108/6149.
It weakened versus the euro to 4.7641/7694 compared to 4.7457/7518 on Monday and fell against the British pound to 5.4784/4846 from 5.4518/4590 yesterday. — Bernama