Ringgit closes higher against greenback

KUALA LUMPUR: The ringgit closed higher against the US dollar today on the back of positive micro economic factors versus the gloomy macro geo-political climate, said dealers.
At 6pm, the local unit was quoted at 4.3030/3060 against the greenback from last Friday's close of 4.3180/3230.
Malaysia’s robust first-quarter 2017 (1Q2017) Gross Domestic Product (GDP) growth data released on last Friday, also uplifted sentiment surrounding the ringgit.
Meanwhile, news that the Trans-Pacific Partnership’s remaining 11 members had agreed to consider efforts at reviving the trade pact without the US,following a meeting on the sidelines of the Asia-Pacific Economic Cooperation (APEC) meeting in Hanoi over the weekend, also had a positive impact on the ringgit.
Against the other major currencies, the ringgit traded mostly higher.
The ringgit rose against the Singapore dollar to 3.1013/1054 from 3.1056/1114 on Friday and strengthened versus the Japanese Yen to 3.8627/8671 from 3.8723/8782.
The local unit appreciated against the British pound to 5.5917/5974 from 5.6177/6247 and contracted vis-a-vis the Euro to 4.8189/8240 from 4.8176/8245. — Bernama