Ringgit closes higher against greenback

KUALA LUMPUR: The ringgit closed higher against the US dollar today on renewed buying interest for the local currency on the back of better growth projection for the Malaysian economy.
At 6pm, the local unit stood at 4.4230/4280 against the greenback compared with 4.4270/4310 on Thursday.
A dealer said Bank Negara Malaysia's projection of a 4.3-4.8% economic growth for Malaysia, this year, brought positive sentiment to the market.
"Malaysia has always been on the global investment radar.
"The ringgit rise, despite the gains in the US dollar today, reflected investors' confidence in the economy," he said.
The local note was traded higher against other major currencies, except the euro.
It improved against the Singapore dollar to 3.1600/1651 from 3.1601/1636, rose against the yen to 3.9789/9845 from 3.9876/9923 and increased versus the British pound to 5.5248/5328 from 5.5289/5352 on Thursday.
The ringgit, however, slipped against the euro to 4.7777/7849 from 4.7679/7731 yesterday. — Bernama