Ringgit ends higher against US dollar on rising oil prices

KUALA LUMPUR, May 30 — The ringgit ended higher against the US dollar today, supported by increasing crude oil prices as China eased pandemic restrictions, coupled with a weakening greenback, said an analyst.

OANDA Asia Pacific senior market analyst Jeffrey Halley said the ringgit found further strength as oil prices improved, while some regional currencies also booked decent gains versus the greenback today, although higher oil prices would increase the countries’ domestic subsidy bills. “However, if oil prices continue to rise this week, the rally in energy-importing Asian currencies may run out of steam,” Halley told Bernama.

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 higher against greenback ahead of US economic dataKUALA LUMPUR: The ringgit opened higher against the US dollar today on renewed buying interest amid China's risk sentiment and the United States (US) economic data due out ahead of the week, said an analyst.
Source: staronline - 🏆 4. / 75 Read more »

US ‘concerned’ after UN human rights chief visits ChinaWASHINGTON, May 29 — The United States expressed concern today over China’s “efforts to restrict and manipulate” the UN human rights chief’s visit to the Xinjiang region...
Source: malaymail - 🏆 1. / 86 Read more »