KUALA LUMPUR: The ringgit rose against the US dollar yesterday in tandem with most emerging Asian currencies following a sharp rebound in crude oil prices from its five-year lows, a dealer said.
At 5pm today, the ringgit was quoted at 3.4225/4255 against 3.4320/3350 on Monday.
The dealer said that the ringgit rose from its steepest decline since June 1998, as investors moved to cover short positions after crude oil rebounded, but the greenback's bullish sentiment might cap gains.
The ringgit was traded mostly higher against other major currencies except for the British pound.
It was up against the Singapore dollar at 2.6190/6215 from 2.6237/5280 on Monday, increased against the yen at 2.8809/8839 from 2.8969/8004 and rose against the euro to 4.2576/2620 from 4.2701/1749 previously.
The local unit slid against the British pound to 5.3822/3876 from 5.3725/2785 on Monday.
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