KUALA LUMPUR: The ringgit closed higher against the US dollar today on persistent buying support for the local unit, dealers said.
At 5pm today, the ringgit was quoted at 3.3505/3535 against 3.3520/3570 on Friday.
A dealer said the local currency outperformed its regional peers following the government's decision on Friday to abolish subsidies for petrol and diesel from December 1.
He said most emerging Asian currencies rose as risk sentiment improved in anticipation of further policy stimulus in China and Europe after a surprise interest rate cut by the Beijing's monetary authority.
The ringgit was slightly higher against the Singapore dollar at 2.5708/5749 from 2.5806/5847 on Friday and rose against the yen to 2.8336/8364 from 2.8424/8461 previously.
The local unit strengthened against the British pound to 5.2398/2462 from 5.2450/2514 previously and appreciated against the euro to 4.1483/1526 from 4.1808/1855.-- Bernama