Ringgit ends higher versus the dollar

KUALA LUMPUR: The ringgit closed higher against the US dollar today due to the positive spillover of the robust economic growth recorded in the first quarter of this year against a backdrop of an alarming external geo-political environment, said dealers.
At 6pm, the local unit was quoted at 4.2920/2950 against the greenback from Monday's close of 4.3030/3060.
Malaysia's first-quarter 2017 Gross Domestic Product of 5.6% contributed to the upbeat sentiment for the local note.
Externally, all eyes were on the aftermath of an allegedly suicide bombing which killed more than 20 people injured 59 others at a concert in London, earlier today, sending tremors to investors at the foreign exchange market.
Meanwhile, the greenback's performance deteriorated after US President Donald Trump sacked FBI Director James Comey, which did not go down well with selected quarters in Washington.
Against other major currencies, the ringgit traded mostly higher.
The ringgit rose against the Singapore dollar to 3.0938/0971 from 3.1013/1054 on Monday and strengthened versus the Japanese yen to 3.8611/8641 from 3.8627/8671 yesterday.
The local unit appreciated against the British pound to 5.5770/5814 from 5.5917/5974 and contracted vis-a-vis the euro to 4.8319/8357 from 4.8189/8240 on Monday. — Bernama