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Ringgit ends marginally higher against US dollar

by October 31, 2016 General

KUALA LUMPUR, Oct 31 — The ringgit closed marginally higher against the US dollar today in line with the softer greenback in regional markets, dealers said.

At 6 pm, the local unit was quoted at 4.1915/1985 against the US dollar from Friday’s 4.1970/1020.

A dealer said the dollar weakened on the back of political uncertainties in the world’s largest economy ahead of the presidential election.

“It was reported that the US dollar depreciated after news that the Federal Bureau of Investigation will review more emails on US Democratic presidential candidate Hillary Clinton’s private email server,” he said.

However, the ringgit was lower against other major currencies.

It fell against the Singapore dollar to 3.0105/0166 from Friday’s 3.0080/0126 and depreciated against the euro to 4.5918/5003 from 4.5777/5848 last Friday.

The local unit was also down against the pound sterling to 5.0998/0087 from 5.0960/0037 on Friday and fell lower against the yen to 3.9904/9982 from 3.9865/9924 last Friday. — Bernama