Forex
Ringgit Ends Slightly Higher Amid Global Uncertainties
The Malaysian ringgit closed slightly higher against the US dollar on Thursday after trading in a narrow range, despite heightened global uncertainties.
According to Afzanizam Abdul Rashid, chief economist at Bank Muamalat Malaysia Bhd, the local currency maintained a tight trading range of RM4.0830 to RM4.0887 against the greenback.
The ringgit strengthened to around RM4.0843 against the US dollar during the afternoon session, from RM4.0888 in the morning.
The resilience of the ringgit was attributed to higher global bond yields and stronger US data points, which led to increased demand for the greenback.