KUALA LUMPUR: The ringgit closed at a high of 3.8755/8785 against the US dollar today – a level last seen on Jan 26 this year – supported by subsiding fears of a trade war between the US and China, and rising crude oil prices.
At 6pm, the local note finished 185 basis points higher against Monday's close of 3.8940/8970.
Meanwhile, the benchmark Brent crude oil traded at US$69.77 per barrel as at 6.25pm today.
The ringgit also traded higher against a basket of other major currencies.
It rose against the yen to 3.6665/6697 from 3.7050/7086 on Monday, and appreciated against the Singapore dollar to 2.9613/9645 from 2.9709/9737 yesterday.
The local unit advanced against the euro to 4.8110/8152 from 4.8305/8346 on Monday, and was better against the pound at 5.4745/4795 from 5.5353/5408 yesterday. – BERNAMA