Ringgit emerges attractive currency among investors at close

KUALA LUMPUR: The ringgit was higher against the US dollar at today's close as the local note emerged as an attractive currency among investors, dealers said.

He said the ringgit soared as the greenback traded sideways ahead of the outcome of the Federal Reserve's meeting.

At 6pm, the local unit was quoted at 4.1860/1890 against the US dollar from 4.1900/1930 on Tuesday.

"Investors were cautious, pending the outcome from the Fed meeting, which is expected to announce plans to trim its US$4.2 trillion in bond holdings (US$1=RM4.19)," the dealer said.

The dollar index, which tracks the greenback against a basket of six major rivals, edged down 0.1% to 91.739.

Against other major currencies, however, the ringgit was traded lower.

Against the Singapore dollar, it fell to 3.1144/1177 from 3.1053/1087 yesterday and weakened to 3.7597/7630 from 3.7535/7565 versus the yen.

Vis-a-vis the British pound, the local note declined to 5.6712/6769 from 5.6540/6597 and depreciated to 5.0278/0331 from 5.0217/0257 against the euro. — Bernama