KUALA LUMPUR, Oct 1 — The ringgit ended higher against the US dollar on Friday, supported by improved sentiment towards the local currency, a dealer said.
At 6pm, the local note rose to 4.1770/1810 versus the greenback from yesterday’s closing of 4.1855/1870.
The dealer said the local note gathered some strength and appreciated against the US dollar amid positive sentiment surrounding the reopening of the economy after more states moved to the next phase under the National Recovery Plan (NRP).
“The government’s announcement on Wednesday that Kuala Lumpur, Putrajaya, Selangor and Melaka would move from Phase Two to Phase Three of the NRP effective today have improved investors’ risk appetite,” he told Bernama.
Meanwhile, OANDA Asia Pacific senior market analyst Jeffrey Halley noted that a slight easing of US Treasury yields overnight and some profit-taking pushed the US Dollar Index slightly lower.
At the close, the ringgit was traded mixed against a basket of major currencies.
The local note rose against the Singapore dollar to 3.0756/0788 compared with 3.0760/0775 at Thursday’s close and appreciated vis-a-vis the euro to 4.8361/8408 from 4.8531/8548 previously.
However, the ringgit eased versus the British pound to 5.6373/6427 from 5.6308/6328 yesterday and slipped against the Japanese yen to 3.7580/7616 from 3.7394/7407 previously.
— BERNAMA
