KUALA LUMPUR: The ringgit ended higher against the US dollar today on improved global oil prices.
At 6pm, the local unit was quoted at 4.2790/2830 against the greenback, from Monday's 4.2855/2885.
OANDA's Asia-Pacific Senior Trader, Stephen Innes, said the ringgit has held up extremely well, as investors see the currency as undervalued relative to its regional peers.
He said the local currency is also supported by the country’s commendable gross domestic product growth of 5.8 per cent in the second quarter of 2017, as announced by Bank Negara Malaysia last Friday.
Meanwhile, the ringgit ended higher against other major currencies.
The ringgit rose against the yen to 3.9138/9193 from 3.9309/9348 on Monday, and strengthened versus the Singapore dollar to 3.1399/1439 from 3.1439/1466 yesterday.
It gained against the euro to 5.0291/0355 from 5.0307/0347 yesterday, and improved against the British pound to 5.4925/4985 from 5.5172/5232 on Monday. -- BERNAMA