21 January 2019, Monday | 10:54pm

Ringgit rises against US$ on higher oil prices

2019-01-09

KUALA LUMPUR:  The ringgit was slightly higher against the US dollar in the early trading session on Wednesday as better global oil prices lifted market sentiment for the local note.

At 9.21 am (0121 gmt), the ringgit stood at 4.1150/1200 versus the US dollar from 4.1160/1200 Tuesday.

A dealer said US oil prices rose above US$50 a barrel on market expectations that Washington and Beijing could resolve their trade dispute.

“US West Texas Intermediate (WTI) crude oil futures was up 36 cents to US$50.14 per barrel, while the international benchmark Brent crude futures had yet to trade,” he added.

Meanwhile, the ringgit traded lower against other major currencies, except against the British pound, where it rose to 5.2425/2509 from 5.2537/2608 at close Tuesday.

It declined against the Singapore dollar to 3.0318/0359 from 3.0287/0328, fell against the yen to 3.7825/7882 from 3.7803/7843, and weakened against the euro to 4.7141/7215 from 4.7128/7190. - Bernama

 

 

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