Ringgit ends higher against US dollar

A money changer counts ringgit at a shop in Putrajaya October 26, 2007. — Reuters pic
A money changer counts ringgit at a shop in Putrajaya October 26, 2007. — Reuters pic

KUALA LUMPUR, Sept 20 — The ringgit ended higher against the US dollar today as investors’ demand for the currency improved amid unclear foreign exchange trajectory, said a dealer.

At 6pm, the local unit rose to 4.1350/1400 against the greenback from 4.1415/1445 yesterday.

Oanda Head of Trading for Asia-Pacific Stephen Innes, however, said currency markets endured a day of little direction.

“Most market participants were looking for a reason, in the absence of leads, to buy or sell.

“The dollar looked battle worn and genuinely fatigued,” he told Bernama.

The ringgit was mostly higher against a basket of currencies.

The local currency appreciated against the yen to 3.6837/6898 against yesterday’s 3.6866/6896 and was up against the euro at 4.8380/8459 from 4.8439/8491 previously. 

It did better against the Singapore dollar at 3.0216/0261 from 3.0237/0267 yesterday, however, declined against the British pound to 5.4594/4677 from 5.4581/4633 previously. — Bernama

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