Ringgit ends higher against US dollar

KUALA LUMPUR: The ringgit rebounded to close higher against the US dollar today on renewed demand for the local note following an upward economic growth forecast for Malaysia projected by the World Bank, dealers said.
At 6pm, the local unit was quoted at 4.2260/2290 against the US dollar from yesterday's 4.2350/2390.
The dealer said the World Bank raised its 2017-2018 growth forecast for East Asia and projected an upward economic growth forecast for Malaysia stating it was lifted by higher investment and a recovery in global trade.
"The ringgit nudged up and was on track for its best day in nearly three weeks," he said.
It, however, was traded mixed against other major currencies today.
It fell against the Singapore dollar to 3.1064/1098 from Tuesday's 3.1046/1085 and depreciated against the yen to 3.7558/7591 from 3.7471/7510 today.
The local note appreciated against the euro to 4.9689/9729 from 4.9693/9757 today and improved against the British pound to 5.6071/6119 from 5.6076/6146 on Tuesday. — Bernama