The US dollar is a little cheaper to buy for Malaysians today as the ringgit strengthers by 5% to move to RM4.16 for every USD. – The Malaysian Insider file pic, October 7, 2015.The ringgit jumped more than 5% to a five-week high today on stop-loss dollar selling and higher local stocks.
The ringgit, the worst performing Asian currency so far this year, surged as much as 5.2% to 4.1600 per dollar, its strongest since September 1.
Meanwhile, stocks in the FBM KLCI advanced 1.6%.
The ringgit and Malaysian stocks also found support from stronger-than-expected August exports and a rebound in global crude prices that eased concerns over the country's overseas earnings from oil and gas sales. – Reuters
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