Ringgit closes higher against US dollar

KUALA LUMPUR: The ringgit closed higher against the US dollar on rising oil prices, said a dealer.
At 6pm, the local unit was quoted at 3.9655/9685 against Monday's close of 3.9780/9820.
Global benchmark, Brent crude, today increased 42 sen to US$72.66.
However, OANDA Head of Trading in Asia-Pacific Stephen Innes said the ringgit remained vulnerable to the lack of fiscal planning.
"But, market levels look attractive from both a bond yield and currency perspective, not to mention surging oil prices, so once there is fiscal clarity, we would finally see the sentiment for the ringgit improving," he said in a note today.
Innes added emerging Asian currencies were susceptible to the stronger US dollar.
The ringgit was easier against the Singapore dollar to 2.9638/9664 versus 2.9570/9606 on Monday and declined against the yen to 3.5754/5788 from 3.5744/5790 yesterday.
It depreciated against the British pound to 5.3423/3480 from 5.3329/3399 and fell against the euro to 4.6884/6924 from 4.6722/6785 on Monday. — Bernama