Ringgit rises against US dollar

KUALA LUMPUR: The ringgit ended higher against the US dollar today supported by optimism in the market as Malaysia's Manufacturing Purchasing Managers' Index (PMI) in October 2021 rose to 52.2 from 48.1 in September.

At 6 pm, the local note rose marginally versus the greenback to 4.1480/1495 from 4.1500/1530 at Monday's close.

Ambank Research pointed out that the US dollar was expected to be tepid ahead of the US Federal Reserve's two-day policy meeting on Tuesday and Wednesday.

"We foresee the local note to fluctuate in the range of 4.1376 and 4.1533 against US dollar," it said in a note.

At the close, the ringgit was easier against a basket of major currencies except against the British pound.

It fell slightly against the Singapore dollar to 3.0781/0796 from 3.0748/0772 at Monday's close and declined against the Japanese yen to 3.6543/6556 from 3.6327/6356.

The local note also reversed its gains against the euro to 4.8104/8122 from 4.7999/8034 yesterday and further strengthened vis-a-vis the British pound to 5.6587/6607 from 5.6685/6726 previously.