Ringgit rebounds to close higher against US dollar | Money

Malaysian ringgit and US dollars November 24, 2020. — Picture by Hari Anggara
Malaysian ringgit and US dollars November 24, 2020. — Picture by Hari Anggara

KUALA LUMPUR, Sept 15 — The ringgit rebounded from yesterday’s losses to close slightly higher against the US dollar today as the recent downtrend sparked some buying interest among investors, dealers said.

At 6pm, the local note was traded higher at 4.1570/1590 versus the greenback compared with 4.1615/1640 at yesterday’s closing.

However, a dealer said that the US dollar remained stable, benefitting from the slightly-below-expectation US Consumer Price Index data released last night.

Although it was a marginal miss, he said, this may cause the US Federal Reserve (US Fed) to take a little longer to start the tapering process, which was positive for the greenback.

Meanwhile, he said that investors would also be paying attention to any detail about monetary policy coming from the US Fed, as this could completely change the current scenario.

Meanwhile, the ringgit was traded mixed against a basket of major currencies at the close.

It ended slightly higher against the euro at 4.9152/9176 compared to 4.9164/9193 at yesterday’s close and strengthened vis-a-vis the British pound to 5.7475/7502 from 5.7687/7721 previously.

However, the local note eased against the Singapore dollar to 3.1002/1019 from 3.0987/1008 yesterday and depreciated versus the Japanese yen to 3.8019/8041 from 3.7811/7834 previously. — Bernama