KUALA LUMPUR, April 20 — The ringgit ended higher against the US dollar for a second consecutive day today on the back of stable oil prices, said an analyst.
At 6pm, the local unit rose to 4.1130/1180 against the greenback from Monday’s close of 4.1220/1250.
Axi chief global market strategist Stephen Innes said the US Treasury yields were starting to edge higher, suggesting that the US dollar could be nearing the bottom.
The firmer oil prices today also provided a fillip to the ringgit.
At press time, Brent crude jumped 1.06 per cent to US$67.76 per barrel.
Meanwhile, the ringgit traded mostly higher against other major currencies.
It appreciated against the Singapore dollar to 3.0964/0011 from 3.0972/1001 on Monday, and advanced against the euro to 4.9590/9659 from 4.9612/9661 yesterday.
The ringgit fell against the British pound to 5.7508/7594 from 5.7292/7350 but went up versus the yen to 3.7918/7968 from 3.8145/8180 previously.
— Bernama
