Ringgit extends rally in early trade


KUALA LUMPUR: The ringgit extended yesterday’s rally against the US dollar and other major currencies on continued buying interest and as the oil price strengthened, dealers said.

At 9.20am, the ringgit was quoted at 4.1740/1790 to the greenback against Wednesday’s 6pm close of 4.1900/1950.

A dealer said an overnight jump in oil prices to a 15-month high had boosted the ringgit’s strength.

The benchmark Brent Crude climbed 1.9 per cent to US$52.67, while West Texas Intermediate Crude touched US$51.93, the highest since July 2015.

“Markets will be watching the third and final US presidential debate today, before the Nov 8 election, for some trading cues,” he added

The local note was stronger against the Singapore dollar at 3.0040/0086 from 3.0220/0260 yesterday and rose against the yen to 4.0274/0334 from 4.0514/0578.

It appreciated against the British pound to 5.1278/1343 from 5.1499/1578 and strengthened against the euro to 4.5772/5835 from 4.6073/6132.