Ringgit Rebounds To End Higher Against US Dollar

KUALA LUMPUR, March 2 (Bernama) -- The ringgit rebounded from Thursday’s losses to end higher against the US dollar Friday on renewed buying interest in the local note and in line with most emerging Asian currencies, dealers said. At 6 pm, the local note was quoted at 3.9020/9050 versus the greenback from yesterday’s 3.9270/9300. A dealer said the US dollar eased on fears over US President Donald Trump’s decision to impose heavy import tariffs on steel and aluminium. “The higher import tariffs are expected to protect the US steel and aluminium industry, but has had a negative impact on the greenback in pulling it sharply back from six-week highs,” he said. The local note, however, traded mixed against a basket of major currencies. It appreciated against the Singapore dollar to 2.9532/9565 from Thursday’s 2.9577/9605 and rose against the British pound to 5.3742/3795 from 5.3953/3014. It decreased against the euro to 4.7901/7946 from 4.7831/7875 and depreciated against the yen to 3.6888/6934 from 3.6777/6822. -- BERNAMA