Ringgit a tad higher v greenback
The ringgit is marginally higher against the US dollar at the close today on better oil prices and stimulus hopes for China’s economy. – The Malaysian Insight file pic, June 26, 2023.
At 6pm, the local note ended at 4.6730/6780 against the greenback compared with 4.6760/6805 last Friday. Hong Leong Bank Bhd was “neutral-to-slightly bullish” on the US dollar/ringgit pair as “the geopolitical events over the weekend are likely to result in some safe haven bid with the greenback being the beneficiary of any risk-off moves.”
At the close, the local note was marginally lower versus the British pound at 5.9487/9551 from Friday’s closing of 5.9469/9527 and depreciated vis-a-vis the euro to 5.0917/0971 from 5.0781/0830. However, the local note strengthened against other Asean currencies except for the Philippine peso.
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