KUALA LUMPUR: The ringgit was unchanged against the US dollar in the absence of fresh direction and on subdued demand for the local note amid the firmer greenback, dealers said.
At 9 am, the local unit was pegged at yesterday’s close of 4.0770/0800.
However, a dealer said an imminent hike in interest rates both at home and the United States, which pushed the dollar to a one-month high last night, could fuel risk appetite today.
Rising crude oil prices, which was currently trading above US$65 per barrel, the highest since mid-2015, would also help spur demand for the ringgit today.
Meanwhile, the ringgit was traded higher against a basket of major currencies.
It rose against the Singapore dollar to 3.0146/0178 from 3.0171/0207 on Tuesday and advanced against the yen to 3.5927/5960 from 3.5933/5963 yesterday.
The local note also strengthened against the British pound to 5.4297/4350 from Tuesday’s 5.4391/4456 and appreciated against the euro to 4.7880/7928 from 4.8035/8083 yesterday. --Bernama