Ringgit closes sharply higher against USD
The ringgit closed sharply higher against the US dollar today on continued buying demand for the local currency ahead on the Federal Reserve's (Fed) monetary meeting this week, dealers said.
The ringgit was quoted at 3.2485/2515 for a US dollar from 3.2880/2920 last Friday.
A dealer said the US dollar was traded within a tight range before the two-day Fed which was expected to result in the stimulus programme being scaled back.
Meanwhile, the local currency strengthened against other major currencies.
The ringgit was higher against the Singapore dollar at 2.5743/5769 from 2.5876/5913 last week and stronger against the yen at 3.2737/2774 from 3.2979/3036 previously.
The ringgit also improved against the British pound at 5.1687/1748 from 5.1973/2050 and increased against the euro at 4.3384/3434 from 4.3694/3754 last Friday.-- Bernama