Ringgit ends higher on improved buying interest

Market participants await insights from the US Federal Open Market Committee’s December meeting minutes, says analyst.

KUALA LUMPUR:

 The ringgit ended slightly higher against the US dollar and other major currencies today, driven by improved buying interest.

The US Dollar Index (DXY), which measures the value of the US dollar against six major currencies, traded at 97.96, down by 0.05%.

Market participants remained on the sidelines, awaiting insights from the US Federal Open Market Committee’s December meeting minutes.

At 6pm, the ringgit rose to 4.0460/4.0505 against the US dollar, from 4.0580/4.0625 at yesterday’s close.

At the close, the ringgit traded higher against a basket of major currencies.

It appreciated vis-a-vis the Japanese yen to 2.5948/2.5978 from 2.5956/2.5987 at yesterday’s close, was slightly higher versus the British pound at 5.4678/5.4738 from 5.4742/5.4803 and inched up against the euro to 4.7621/4.7674 from 4.7787/4.7840.

The local note was also firmer against its Asean peers.

It rose against the Singapore dollar to 3.1526/3.1566 from 3.1572/3.1610 yesterday, gained versus the Thai baht to 12.8404/12.8620 from 12.8985/12.9190, strengthened against the Indonesian rupiah to 241.2/241.6 from 241.7/242.1, and was higher vis-a-vis the Philippine peso at 6.87/6.88 compared to 6.90/6.91 previously. - FMT