KUALA LUMPUR: The ringgit closed higher against the US dollar today on renewed buying interest for the local currency on the back of better growth projection for the Malaysian economy.
At 6pm, the local unit stood at 4.4230/4280 against the greenback, compared with 4.4270/4310 on Thursday.
A dealer said Bank Negara Malaysia's projection of 4.3-4.8 per cent economic growth for Malaysia this year brought positive sentiment to the market.
"Malaysia has always been on the global investment radar.
"The ringgit’s rise, despite the gains in the US dollar today, reflected confidence in the nation's economy," he said. -- BERNAMA