Ringgit closes higher against US dollar

The ringgit rebounded to trade higher against the US dollar in late trading today on renewed demand for the local currency in line with the stock market's bullish performance, dealers said.

At 5pm, the ringgit was quoted at 3.3335/3365 versus the greenback from yesterday's 3.3465/3480 close.

However, a dealer said the market was quiet today as most investors were on the sidelines awaiting the outcome of the US Federal Open Market Committee meeting.

Against other major currencies, the ringgit was traded mostly higher.

The local unit appreciated against the Singapore dollar to 2.6186/6218 from 2.6210/6226 yesterday and rose against the yen to 3.2386/2425 from 3.2636/2667.

The ringgit, however, depreciated against the British pound to 5.5346/5406 from 5.5291/5322 on Monday but improved against the euro to 4.5542/5590 from 4.5844/5871 previously.-- Bernama