Ringgit gains broadly but eases against US dollar
The ringgit traded volatilely against the US dollar but recovered despite the greenback remaining firm, with the US Dollar Index hovering around 101 points, says an analyst.
KUALA LUMPUR: The ringgit experienced mixed fortunes against various currencies on Thursday, closing higher overall but weaker against the US dollar. By 6pm, the local currency fell to 4.0840/4.0880 per US dollar, down from Wednesday’s closing rate of 4.0780/4.0825. Bank Muamalat Malaysia Bhd chief economist Afzanizam Abdul Rashid noted that the ringgit displayed volatility against the US dollar, dipping to RM4.0940 in the morning before bouncing back to RM4.0793 in the afternoon.
Despite the US dollar's strength, with the US Dollar Index hovering around 101 points, the ringgit managed to recover. At the market close, the ringgit traded at a premium against a basket of major currencies, including the euro, British pound, Japanese yen, and several Asean currencies. It also saw gains against its Asian counterparts, such as the Singapore dollar, Thai baht, Indonesian rupiah, and Philippine peso.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 3 other outlets
- Ringgit ends higher against major currencies, eases versus US dollar nst.com.my
- Ringgit gains broadly but eases against US dollar freemalaysiatoday.com
- Ringgit ends higher against major currencies, eases versus US dollar malaymail.com
