Ringgit closes higher versus US dollar

KUALA LUMPUR: The ringgit ended higher against the US dollar today on improved demand for the local note as investors started to participate in the market following the gain in global oil prices, dealers said.
At 5pm, the local unit was traded at 4.1150/1220 from 4.1520/1620 against the greenback last Friday.
A dealer said global crude oil prices rose 8% following news that Iran was ready to cooperate with Saudi Arabia.
"This news has boosted the global economy including global equity markets and currencies," the dealer said.
It was reported that the spot month for Brent crude was up 63 cents to US$31.95 a barrel.
Against other major currencies, the ringgit was traded mostly higher.
It rose against the Singapore dollar to 2.9558/9627 from 2.9672/9754 last Friday but went down versus the yen to 3.5804/5875 from 3.5514/5612.
The ringgit was up against the British pound at 5.9651/9761 from 6.0312/0478 and apreciated against the euro to 4.6327/6422 from 4.6469/6598 previously.
The market was closed on Monday and Tuesday for Chinese Lunar New Year. — Bernama