Ringgit Ends Firmer On Improved Risk Sentiment, Easing Trade Tensions Between US And China

By Fatin Umairah Abdul Hamid

KUALA LUMPUR, Oct 31 (Bernama) -- The ringgit ended firmer against the greenback and major currencies on Friday, supported by improved risk sentiment following the easing of trade tensions between the United States and China.

At 6 pm, the ringgit rose to 4.1860/1930 against the US dollar from Thursday’s close of 4.1935/1985. 

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said that the easing of US-China trade tensions has improved sentiment towards regional currencies, including the ringgit.

“In the afternoon session, the local note continued to strengthen against the US dollar, with the US dollar-ringgit pair reaching RM4.1853,” he told Bernama.

At the close, the ringgit inched up against the yen to 2.7162/7210 from 2.7266/7300 at Thursday’s close, strengthened against the British pound to 5.5025/5117 from 5.5304/5370 and rose versus the euro to 4.8453/8534 from 4.8716/8774 previously.

The local note was traded mostly higher against ASEAN currencies.

It improved against the Singapore dollar to 3.2185/2241 from 3.2285/2326 at Thursday’s close, advanced vis-a-vis the Thai baht to 12.9429/9702 from 12.9501/9723, was higher against the Indonesian rupiah at 251.7/252.2 from 252.0/252.4 and was almost flat against the Philippine peso at 7.12/7.14 from 7.12/7.13 previously.

-- BERNAMA