Ringgit ends higher against US dollar on improved market sentiment
KUALA LUMPU: The ringgit closed higher against the United States dollar on Monday amid improved market sentiment as oil prices fell following fresh momentum for US-Iran talks.
Kuala Lumpur: The Malaysian ringgit ended the trading day higher against the US dollar on Monday, as market sentiment improved and oil prices fell due to progress in US-Iran talks. By 6 pm, the local currency was trading at 4.0755/4.0800 per US dollar, up from Friday's closing rate of 4.0795/0840. Dr Mohd Afzanizam Abdul Rashid, chief economist at Bank Muamalat Malaysia Bhd, attributed the improved market sentiment to talks between US President Donald Trump and Iranian President Masoud Pezeshkian, possibly occurring during the United Nations General Assembly.
The ringgit's appreciation was observed across various currencies, including the euro and British pound, but it declined against the Japanese yen. The local note also showed mixed performance against its ASEAN counterparts, appreciating against the Philippine peso and Indonesian rupiah, while weakening against the Singapore dollar and Thai baht.
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- Ringgit rises against US dollar as market sentiment improves malaymail.com
- Ringgit ends higher on improved market sentiment freemalaysiatoday.com
