KUALA LUMPUR, April 23 — The ringgit opened 0.23 per cent higher against the US dollar today as the improving crude oil prices painted a more friendly outlook for the medium term. At 9.01am, the local unit rose 100 basis-point to 4.3550/3645 versus the greenback from 4.3650/3750 at Wednesday’s...
Thursday, 23 Apr 2020 09:49 AM MYT
KUALA LUMPUR, April 23 — The ringgit opened 0.23 per cent higher against the US dollar today as the improving crude oil prices painted a more friendly outlook for the medium term. AxiCorp global chief market strategist Stephen Innes said the ringgit was advancing on a more friendly outlook for medium-term oil prices, as the market seemed to be sidestepping the dreary near-term outlook in favour of an anticipated robust oil price recovery in the third quarter of the year .
At 9.23am, US crude oil futures benchmark West Texas Intermediate was 1.52 per cent higher at US$13.99 per barrel while the international benchmark Brent Crude increased 1.67 per cent to US$20.71 per barrel.
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