Malaysian Ringgit Closes Higher Against US Dollar

KUALA LUMPUR, June 7 (Bernama) -- The Malaysian ringgit rebounded to close slightly higher against the US dollar Wednesday on renewed buying demand, a dealer said. At 6 pm, the local unit was quoted at 4.2590/2620 against the greenback from Tuesday’s close of 4.2650/2680. The dealer said the improved ringgit was in tandem with most emerging Asian currencies after the dollar was pressured by a sharp drop in US treasury yields to seven-month lows as investors sought the safety of government debt. Against a basket of major currencies, the ringgit traded mixed. It rose against the Singapore dollar to 3.0853/0889 from 3.0868/0898 and depreciated versus the yen to 3.8995/8033 from 3.8879/8910. The local unit appreciated to 5.5009/5074 from 5.5070/5121 when compared with the British pound and fell against the euro to 4.7995/7037 from 4.7973/7019. -- BERNAMA