LAST_UPDATETue, 20 Mar 2018 1pm

Ringgit Ends Unchanged On Steady Oil Prices

KUALA LUMPUR, Feb 17 — The ringgit ended almost unchanged against the US dollar today on steady crude oil prices, as well as positive guidance from Bank Negara Malaysia's (BNM) Financial Markets Committee (FMC) data released today.

At 6 pm, the local unit was traded at 4.4510/4550 against the US dollar from 4.4510/4560 on Thursday.

BNM's FMC, in a statement, said its data indicated an improved balance between exports and imports foreign exchange flows, consistent with the trade surplus in the current account.

For the months of December 2016 and January 2017, it said exports conversion exceeded imports by US$372.9 million and US$741.3 million, respectively.

Meanwhile, crude oil prices rose today on optimism over possible renewed supply cuts by the organisation of the Petroleum Exporting Countries. 

The benchmark Brent crude futures were trading at US$55.76 per barrel during Asia trading, up 11 cents from their last close, while the US West Texas Intermediate crude futures climbed 10 cents to US$53.46 per barrel.

The ringgit, however, ended mixed to lower against other currencies.

It fell against the Singapore dollar to 3.1416/1451 from 3.1374/1420 and versus the yen, it decreased to 3.9417/9463 from 3.9168/9222. 

Vis-a-vis the euro, the ringgit depreciated to 4.7372/7428 from 4.7345/7412, but strengthened against the British to 5.5273/5336 from 5.5669/5745.