Ringgit closes slightly higher against dollar on higher oil price

: The ringgit closed slightly higher against today backed by higher oil prices, said a dealer.

At 6pm, the ringgit was quoted at 4.1100/1150 compared with 4.1120/1150 against the greenback yesterday.

The dealer said the rising oil prices offered support to the ringgit as other Asian currencies fell, following global uncertainty especially involving the United Kingdom, the United States and .

“The upcoming trade talks between the US and China at the end of this month are being monitored closely by investors. Investors are also watching closely the development in the UK on Brexit,“ he told Bernama.

At the time of writing, benchmark crude was recorded at US$61.54 per barrel.

Overall, the ringgit traded mostly higher against other major currencies.

It rose against the dollar to 3.0301/0342 from 3.0318/0344 on Thursday and slightly increased versus the euro to 4.6842/6903 from 4.6844/6895 yesterday.

The local unit also appreciated vis-a-vis the Japanese yen to 3.7507/7559 from 3.7811/7850 previously, but depreciated against the British pound to 5.3179/3248 from 5.2954/2009. — Bernama

Source: The Sun Daily

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