Ringgit closes higher against US dollar

KUALA LUMPUR: The ringgit closed sharply higher against the US dollar today on continued buying interest and aided by the recovery in oil prices, said a dealer.
At 6 pm, the local note appreciated against the greenback to 3.8910/8980 from Wednesday's 3.9170/9210.
OANDA Corp Head of Trading for Asia Pacific Stephen Innes said a weaker US dollar and rebounding commodity prices also boosted sentiment for the ringgit, supported by yesterday's announcement of Malaysia's robust economic growth of 5.9% in 2017.
Meanwhile, the ringgit was weaker against a basket of major currencies.
The local unit was slightly lower against the Singapore dollar to 2.9659/9724 from Wednesday's 2.9654/9705 and declined against the yen to 3.6559/6635 from 3.6441/6488 yesterday.
It was sharply lower against the British pound at 5.4704/4818 from 5.4325/4400 and eased against the euro to 4.8583/8678 from 4.8383/8444 yesterday. — Bernama