Ringgit ends higher after cautious range-bound trading
At 6pm, the ringgit improved to 4.0820/4.0870 versus the greenback.
KUALA LUMPUR, October 2 — The Malaysian ringgit edged slightly higher against the US dollar as market sentiment remained cautious due to global uncertainties. By 6pm, the currency reached 4.0820/4.0870 against the greenback, up from Thursday’s close of 4.0830/4.0875. Dr Mohd Afzanizam Abdul Rashid, chief economist of Bank Muamalat Malaysia Bhd, noted that the ringgit remained within a narrow trading range, fluctuating between RM4.0830 and RM4.0887.
The local currency gained during the afternoon session, trading at around RM4.0843 against the US dollar, up from RM4.0888 in the morning. "Higher global bond yields have been the main drivers of market sentiment this week, while rising crude oil prices and strong US data have fueled demand for the US dollar," Dr Rashid explained to Bernama.
Despite the uncertainties, the ringgit proved resilient. The currency fluctuated against a variety of currencies, strengthening against the euro but weakening against the British pound and Japanese yen, and showing mixed performance against Asean currencies.
Written by urgent.news from Malay Mail's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Ringgit edges higher against US dollar amid cautious trading malaymail.com
- Ringgit ends higher after cautious range-bound trading freemalaysiatoday.com
