Ringgit ends higher against US dollar

KUALA LUMPUR: The ringgit closed stronger against the US dollar for the second consecutive day on renewed demand for the local currency, dealers said.
At 6pm, the ringgit was quoted at 4.1550/1600 against the greenback from 4.1750/1800 yesterday.
A dealer said the ringgit rose in tandem with the emerging Asian currencies which turned firmer and responded well to the stable renmimbi.
China's renmimbi recovered some of its from losses as large state-owned banks sold dollars in an apparent effort to slow the country's currency rapid decline.
The ringgit was traded higher against a basket of major currencies.
It appreciated against the Singapore dollar to 2.9862/9904 from 2.9997/9037 on Monday and rose against the British Pound to 5.0857/0923 from 5.1106/1184 previously.
The local unit gained against the euro to 4.5227/5286 against yesterday's 4.5445/5512 and improved against the yen to 3.9776/9831 from Monday's 4.0167/0227. — Bernama