By BERNAMA
The ringgit closed higher against the US dollar today, reaching a near eight-week high, as investors reacted positively to the recalibrated Budget 2016 announcement, dealers said.
At 5pm, the local unit was traded at 4.2040/2100 from 4.2530/2600 against the greenback on Wednesday.
A dealer said the government’s decision that it would neither impose capital control nor peg the ringgit was a sound one which helped lift worries and gave the market a boost.
The ringgit traded higher against other major currencies.
It rose against the Singapore dollar to 2.9477/9525 from 2.9779/9849 on Wednesday and strengthened against the yen at 3.5399/5453 from 3.5972/5035 yesterday.
The local note appreciated against the British pound to 5.9949/9051 from 6.0848/0965, and was rose against the euro to 4.5828/5906 from 4.6209/6302 yesterday.
You must be logged in to post a comment.