Ringgit closes sharply higher against USD
The ringgit closed sharply higher against the US dollar today following the weakening US currency, a dealer said.
The local note was quoted at 3.2255/2285 to the US dollar from 3.2330/2360 on Tuesday's close.
"The ringgit had climbed against the greenback, partly on speculation that the US government shutdown may lessen the chances of the Federal Reserve scaling back its monetary stimulus soon," he said.
The local note was also higher against most major currencies.
It strengthened against the Singapore dollar to 2.5755/5787 from yesterday's 2.5804/5847.
It, however, fell against the yen to 3.3123/3160 from 3.2976/3014
The ringgit was sharply higher against the British pound at 5.2282/2344 from 5.2462/2524 on Tuesday and rose against the euro to 4.3644/3691 from 4.3801/3851 yesterday.-- Bernama