KUALA LUMPUR: The ringgit ended higher against the US dollar, supported by a weaker US Dollar Index which fell 0.21% to 97.979 points amid heightened uncertainties, says an economist.
At 6pm, the local note appreciated to 4.2370/2450 against the greenback from last Friday’s close of 4.2435/2480.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the ongoing military conflict between Israel and Iran continues to dominate market attention, at a time when investors are bracing for the upcoming US Federal Open Market Committee meeting, scheduled for June 17 to 18.
“Euro, British pound and Swedish krona were gaining against the greenback, while emerging market currencies were mixed, with the dollar/ringgit oscillating within a tight range,” he told Bernama.
