Ringgit extends gains against US dollar

KUALA LUMPUR: The ringgit closed higher against the US dollar again on Tuesday on the back of persistent interest for the local unit amid the stronger greenback.

At 5 pm, the ringgit was quoted at 3.8020/8050 against the greenback from 3.8050/8080 Monday.

"There are lack of local catalysts to move the ringgit. However, due to its recent depreciation, the ringgit managed to attract some bargain hunters to lift its value slightly," a dealer said.

The ringgit was traded mostly higher against other major currencies.

It rose against the yen to 3.0580/0611 from 3.0616/0643 on Monday; appreciated against the pound sterling to 5.9212/9263 from yesterday's 5.9244/9306; and, strengthened against the euro to 4.1267/1315 from 4.1280/1321 on Monday.

However, the ringgit eased against the Singapore dollar to 2.7786/7812 from 2.7733/7757 previously.- Bernama