Ringgit ends marginally higher against dollar | The Malaysian Insight

Ringgit ends marginally higher against dollar

The ringgit continues its positive momentum against the US dollar at the close today as elevated crude oil prices combine with a possibly dovish stance by the US Federal Reserve on its monetary policy to provide support to the local note, says an economist. – The Malaysian Insight file pic, April 6, 2023.

At 6pm, the local note rose marginally to 4.3950/4010 versus the US dollar from yesterday’s closing rate of 4.3970/4020. “The USD/MYR continued to hover around RM4.40 during the day while the ringgit was stronger against the euro despite the better-than-expected Germany’s Industrial Production Index, which grew 0.6% year-on-year in February against consensus estimates of -2.7%. Meanwhile, the ringgit traded mostly higher against a basket of major currencies.

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