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MARKET • 19/10/2024 01:19 AM

Ringgit Ends Marginally Higher On Positive Sentiment Amid Budget Announcement

KUALA LUMPUR, Oct 18 (Bernama) -- The ringgit closed marginally higher against the US dollar today on positive market sentiment following the unveiling of the national budget, according to an analyst.

At 6 pm, the local currency climbed to 4.3045/3075 against the greenback compared to yesterday’s close of 4.3075/3105.

The analyst noted that the budget, presented by Prime Minister Datuk Seri Anwar Ibrahim today, introduced key initiatives aimed at bolstering economic growth and promoting fiscal responsibility.

At the close, the ringgit was mostly higher against a basket of major currencies.

It edged up against the euro to 4.6674/6706 from 4.6771/6803 at Thursday’s close and gained vis-a-vis the Japanese yen to 2.8708/8730 from 2.8790/8812 yesterday.

Meanwhile, it slipped against the British pound to 5.6109/6148 from 5.5967/6006 previously.

Meanwhile, the ringgit traded mostly lower versus ASEAN currencies.

The local note appreciated against the Thai baht to 12.9579/9916 from 12.9619/9776 on Thursday.

It retreated against the Singapore dollar to 3.2791/2817 from 3.2782/2807 yesterday, dropped versus the Philippine peso to 7.48/7.49 from 7.44/7.46, and weakened against the Indonesian rupiah to 278.0/278.3 from 277.7/278.1 previously.

-- BERNAMA

 

 

 

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