Ringgit revisits 4.13 level on firmer oil prices, ease of dollar and US bond yields

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KUALA LUMPUR (April 2): The ringgit rose against the US dollar to 4.13 at the opening today, fuelled by firmer crude oil prices amid the ease of the safe-haven greenback and US bond yields.

The improved local manufacturing data, of which the headline IHS Markit Malaysia Manufacturing Purchasing Managers’ Index (PMI) rose to 49.9 in March from 47.7 in February this year, also lent support to the local currency.

At 9am, the local unit climbed to 4.1385/1435 against the greenback from 4.1440/1470 at yesterday’s close.