Ringgit rises as oil rebound boosts sentiment


On the uptrend: The Malaysian currency rose after energy prices rebounded and Brexit fears eased. – Reuters

KUALA LUMPUR: The ringgit rose, set for the biggest advance in almost two weeks after energy prices rebounded and a poll showing Britons favour remaining in the European Union (EU) boosted demand for riskier assets.

Brent crude extended gains after halting a six-day loss last Friday, that augurs well for Malaysia, which derives about a fifth of government revenue from oil-related sources.

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