Ringgit ends higher versus greenback

KUALA LUMPUR: The ringgit closed higher against the US dollar today on better sentiment boosted by Malaysia's encouraging economic growth recorded in the first quarter amid firmer global oil prices, said a research firm.
At 6pm, the local unit was quoted at 4.2670/2700 against the greenback from Thursday's close of 4.2770/2800.

Malaysia's first-quarter 2017 Gross Domestic Product growth of 5.6% contributed to the ringgit's upbeat sentiment throughout the week.
The greenback faltered as it was taken aback after the Federal Reserve simmered down investors' expectation of interest rates being raised any time soon.
FXTM Corporate Development/Market Research Vice President Jameel Ahmad said the ringgit would find support from the Organisation of Petroleum Exporting Countries' decision to extend its production cut agreement by another nine months, which should support emerging market currencies.
"I expect the local note's performance to remain tilted towards a further gradual recovery against the greenback," he told Bernama today, adding that the expected US interest rate rise next month has already been factored in.
Against other major currencies, the ringgit was traded higher, except the Japanese yen.
It rose against the Singapore dollar to 3.0844/0886 from 3.0872/0911 on Thursday and trimmed versus the Japanese yen to 3.8452/8496 from 3.8222/8262 yesterday.
The local unit appreciated against the British pound to 5.4912/4955 from 5.5396/5460 and improved vis-a-vis the euro to 4.7859/7897 from 4.8005/8047 on Thursday. — Bernama