Ringgit Ends Higher Against US Dollar

KUALA LUMPUR, Oct 24 (Bernama) -- The ringgit ended higher against the US dollar Monday following the tabling of Budget 2017 last Friday which lifted foreign investors' confidence, thus creating a better demand for the local currency. At 6 pm, the ringgit was quoted at 4.1750/1800 against the greenback from 4.1830/1890 last Friday. A dealer said Budget 2017, which is seen as maintaining the national agenda for fiscal consolidation, would boost the foreign investors' confidence in the local market and help to support the ringgit in the medium term. The ringgit was traded higher against a basket of major currencies. It appreciated against the Singapore dollar to 2.9997/9037 from 3.0027/0078 on Friday and rose against the British Pound to 5.1106/1184 from 5.1158/1248 previously. The local unit gained against the euro to 4.5445/5512 from 4.5595/5677 and improved against the yen to 4.0167/0227 from 4.0279/0341 recorded last Friday. -- BERNAMA