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Ringgit Extends Gains On Sustained Demand

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KUALA LUMPUR – The ringgit extended gains from yesterday to open higher against the US dollar on sustained demand and amid the weakening of the latter, a dealer said.

At 9 am, the ringgit was traded at 4.2020/2100 against the US dollar from 4.2150/2250 at 5 pm Wednesday.

The uptrend was also supported by improved crude oil prices coupled with a better-than-expected August trade performance.

Against other major currencies, the ringgit was traded mostly higher.

It rose against the yen to 3.5011/5083 from 3.5105/3197 registered on Wednesday, strengthened versus the pound sterling to 6.4358/4501 from 6.4473/4651 and increased against the euro to 4.7235/7333 from 4.7381/7497.

The local unit, however, depreciated against the Singapore dollar to 2.9797/9865 from yesterday’s 2.9780/9861. – Bernama

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