Ringgit marginally higher against US dollar at close

KUALA LUMPUR: The ringgit ended marginally higher against the US dollar today backed by Malaysia's encouraging August exports data despite the increase in US Treasury yields, a dealer said.

At 6 pm, the local note stood at 4.1830/1855 against the greenback from yesterday's closing of 4.1835/1855.

The dealer said the ringgit gained support from the release of better-than-expected exports data and strong trade surplus amid reports that the country was considering reopening more of its economy and allowing interstate travel.

Meanwhile, OANDA Asia Pacific senior market analyst Jeffrey Halley noted that high energy prices and the reopening of the economy appeared to be sparing the ringgit from the fallout for now.

At the close, the ringgit was traded mostly higher against a basket of major currencies.

The local note rose against the Singapore dollar to 3.0821/0844 compared with 3.0831/0848 at Tuesday's close, improved versus the British pound to 5.6579/6613 from 5.7071/7099, and appreciated vis-a-vis the euro to 4.8799/8828 from 4.8851/8874 previously.

However, it weakened against the Japanese yen to 3.7586/7609 from 3.7577/7599 yesterday.

-- BERNAMA