The ringgit ended higher against the US dollar today on positive indications shown by China’s economy despite further fall in oil prices, analysts said.

At 5pm, it rose to 4.3700/3800 against US dollar at 4.3800/3900 on Friday.

An analyst said the strong performances of emerging Asian currencies helped push the local unit to ended higher.

“The renmimbi rose today after the People’s Bank of China set its official rate higher for the second session, which in turn, sent a positive signals to market players despite further fall in the global oil prices,” he said.

Oil prices today declined three per cent to US$32.51 per barrel, tracking the slowing China economy.

However, investor concern over Malaysia’s falling oil and gas revenues has contributed to the lower ringgit, which hovered near a three-month low.

The ringgit ended slightly higher against the Singapore dollar to 3.0423/0508 from last Friday’s 3.0472/0550 and went up against the British pound to 6.3662/3817 from 6.4014/4182 on Friday.

It eased against the yen to 3.7072/7166 from 3.6993/6093 last Friday and against the euro, it rose to 4.7559/7681 from 4.7611/7737 previously.

- Bernama