RINGGIT REBOUNDS TO CLOSE HIGHER AGAINST US DOLLAR

ZARUL EFFENDI RAZALI

KUALA LUMPUR, Jan 7 (Bernama) -- The ringgit rebounded from yesterday's losses to end higher against the US dollar today as investors' risk appetite towards safe havens eased amid heightened tensions in the Middle East, a dealer said.

 At 6pm, the ringgit was quoted at 4.0910/0950 versus the greenback, compared with 4.1020/1060 on Monday.

He said most Asian currencies rebounded on Tuesday despite tensions between Iran and the United States (US) after Iran’s top general was killed in a US drone strike on Friday last week.

Although fears of a fresh conflict in the oil-rich Middle East are keeping markets on the edge, the dealer said the currencies of some oil importing countries, such as the South Korean won, has been on an upward trend.

Meanwhile, the ringgit was also traded higher against a basket of major currencies.

It went up against the Singapore dollar to 3.0331/0369 compared with 3.0396/0428 at Monday's close, and rose against the Japanese yen to 3.7715/7759 from 3.7989/8033 yesterday.

The local note strengthened against the British pound to 5.3887/3956 from 5.3908/3977 previously and increased against the euro to 4.5750/5811 from 4.5910/5971. 

-- BERNAMA

 

TAGS:

Ringgit, Middle East tensions, US airstrike, Iran, oil