KUALA LUMPUR, June 18 — The ringgit ended the week on a higher note against the US dollar, helped by the firmer oil prices as demand increases, analysts said. At 6pm, the ringgit was quoted at 4.2670/2730 compared with 4.2750/2800 at yesterday’s close. An anaylst said oil prices were picking up...
The ringgit ended the week on a higher note against the US dollar, helped by the firmer oil prices as demand increases, analysts said. ― Picture by Miera Zulyana
However, a potential resurgence of the coronavirus disease in China and the US would affect the long-term outlook. Reports said the easing of lockdown in Europe, some parts of Asia, and even Africa has seen the demand improved as businesses were opening up. “The move will encourage more demand for the local currency and hopefully, able to boost tourism activity, as the government also announced the reopening of swimming pools and diving activity beginning June 25, subject to the limited people at any one time based on the pool’s capacity,” she told Bernama.
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