Ringgit hits 10-year high against dollar

THE ringgit touched a 10-year high today, hitting 3.2885/2915 against the US dollar since late 1997, taking advantage of the weaker dollar in the global markets, dealers said.They said the gain was also supported by the uptrend performance of the regional currencies like the Japanese yen, Chinese yuan and Singapore dollar.At the close, the ringgit strengthened to 3.2885/2915 against the greenback, compared with Wednesday’s 3.3095/3125.The rising crude oil prices and gold price had also provided an impetus to the ringgit, a dealer said.Against the Singapore dollar, the ringgit was stronger at 2.2918/2952 compared with yesterday’s closing of 2.2976/3010 but was lower against the yen at 3.0026/0065 from 2.9663/9693.The ringgit was higher against the British pound at 6.5010/5083 from 6.5670/5747 and increased against the euro at 4.8331/8382 from 4.8521/8568 previously. — Bernama