KUALA LUMPUR: The ringgit closed higher against the US dollar today in line with the encouraging oil prices, a dealer said.
At 6pm, the ringgit rose to 4.1870/1900 against the greenback compared with 4.1910/1940 at Thursday’s close.
Phillip Capital Management, Asia-Pacific, senior vice president (investment) Datuk Dr Nazri Khan Adam Khan said the ongoing trade tensions between US-China continued to impact the ringgit.
“Over the last two months, the ringgit had been sliding against the greenback, which led to its fresh dip of RM4.19 since Nov 28, 2018,” he said.
“The latest US move to blacklist Chinese telecommunications giant Huawei reflects no near peaceful solution between these two economic giants,” he told Bernama today.
The benchmark Brent crude was 1.32 per cent better at US$67.38 per barrel.
The ringgit, meanwhile, traded mostly lower against a basket of major currencies.
It was easier against the Singapore dollar at 3.0404/0431 from Thursday’s 3.0326/0352, and depreciated against the Japanese yen to 3.8178/8216 from 3.8076/8113.
The local unit weakened vis-a-vis the British pound to 5.3158/3213 from 5.2949/2995 and declined against the euro to 4.6844/6894 from 4.6663/6700. - Bernama
