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Ringgit ends slightly higher against the US dollar

The ringgit rebounded to close slightly higher against the US dollar today on renewed buying demand as improving crude oil prices supported the market, a dealer said.

At 6pm, the local unit was traded at 4.4830/4870 against the US dollar from 4.4960/4990 yesterday.

The dealer said the current stability in crude oil prices, with the benchmark Brent crude futures trading at above US$55 per barrel, coupled with gains on stock markets, had convinced traders to buy the ringgit.

Against other major currencies, the ringgit was traded mostly lower.

The local note fell against the yen to 3.8441/8479 from yesterday's 3.8202/8231 and eased against the Singapore dollar to 3.1251/1297 from 3.1099/1126 yesterday.

It rose against the British pound to 5.5150/5217 from 5.5197/5239 yesterday and eased against the euro to 4.7089/7140 from 4.6929/6974 yesterday.

- Bernama

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