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Markets  |  JANUARY 29, 2016 9:40AM

Ringgit rises to 4.15 against US$, 2.9143 against S$

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Ringgit1The ringgit closed higher against the US dollar today to hit a three-and-a-half-month high as global crude oil price extended its gains, dealers said.

At 5pm, the local unit was traded at 4.1500/1600 from 4.2040/2100 against the greenback on Thursday.

A dealer said news of a possible cut in oil output by the world’s major oil producing countries had resulted oil prices to rise.

The benchmark Brent futures went up to nearly US$36 a barrel.

The dealer said Japan’s central bank’s decision to unexpectedly cut a benchmark interest rate to -0.1% also lend support for the local note.

The ringgit was traded higher against other major currencies.

It rose against the Singapore dollar to 2.9143/9228 from 2.9477/9525 on Thursday and strengthened against the yen at 3.4337/4429 from 3.5399/5453 yesterday.

The local note appreciated against the British pound to 5.9598/9758 from 5.9949/9051 yesterday and rose against the euro to 4.5206/5323 from 4.5828/5906 yesterday.



 
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