THE ringgit rebounded from yesterday’s losses to trade higher against the US dollar at the early session today as a positive outlook on the global economy shifted investors’ interest towards riskier appetite, including ringgit, dealers said.
At 9.01am, the ringgit was quoted at 4.3380/3450 compared with yesterday’s close of 4.3660/3740.
A dealer said investors were positive on news that the US President Donald Trump administration is prepared to take further steps if needed to shore up the nation’s economy during the Covid-19 outbreak.
Meanwhile, the ringgit was traded mixed against a basket of major currencies.
The local currency went up against the Singapore dollar to 3.0603/0663 from 3.0606/0667 on Monday and appreciated versus the Japanese yen to 4.0427/0486 from 4.0686/0768.
The ringgit also fell vis-a-vis the euro to 4.7367/7456 compared with 4.7179/7283 at yesterday’s close and weakened against the British pound to 5.2980/3038 from 5.2925/2039 previously. – May 19, 2020, Bernama
