Ringgit continues uptrend against US dollar

KUALA LUMPUR, June 20 — The ringgit closed higher against the US dollar for the fourth straight trading day today, driven by continued buying interest, said an analyst.

At 6pm, the local currency marginally improved against the greenback to 4.3985/4015 from Friday’s close of 4.4000/4040. The analyst said the bearish outlook on the global economy prompted more investors to shift to emerging currencies. “The steady crude oil price, with the benchmark Brent crude oil trading at above US$110 per barrel, will benefit the Malaysian government, allowing for the smooth implementation of expansionary fiscal policies,” he said.The local note appreciated against the British pound to 5.3864/3901 from Friday’s close of 5.4208/4257, strengthened versus the Singapore dollar to 3.1717/1743 from 3.1753/1786 and rose against the Japanese yen to 3.2627/2652 from 3.2655/2688.

Marginal & erratic upward trend? Come on. Take a look at the chart. There isn’t a upward trend. 😂😂😂

Singapore playing it up

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ringgit opens flat against US dollarKUALA LUMPUR, June 20 — The ringgit opened flat against the US dollar today on a lack of fresh buying interest, said a dealer. At 9.10am, the local currency traded at...
Source: malaymail - 🏆 1. / 86 Read more »

New US Capitol riot hearings promise fresh dramaWASHINGTON, June 20 — A new round of hearings this week by the congressional committee probing the January 6, 2021 US Capitol riot promises further drama, with one member saying...
Source: malaymail - 🏆 1. / 86 Read more »