Ringgit stronger in opposition to US greenback

KUALA LUMPUR: The ringgit rebounded from Wednesday’s losses to finish marginally increased in opposition to the US greenback yesterday, boosted by shopping for demand and continued rally in crude oil costs, says a seller.

At 6 pm, the native be aware stood at 4.1870/1890 versus the buck in contrast with 4.1935/1955 at Wednesday’s shut.

A seller mentioned oil costs continued their uptrend yesterday, with Brent crude souring above US$116 (RM485.65) per barrel as commerce disruption and delivery points from Russian sanctions over the Ukraine disaster sparked provide considerations whereas US crude shares fell to multi-year low . — Bernama

The Group of the Petroleum Exporting International locations and its allies together with Russia (OPEC+) have determined to take care of a rise in output by 400,000 barrels per day this month regardless of the worth surge, ignoring the Ukraine disaster throughout their talks and snubbing calls from shoppers for extra crude , he mentioned.



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