KUALA LUMPUR: The ringgit closed higher against the US dollar on the back of encouraging October trade data, and amidst expectation that Bank Negara Malaysia will raise interest rates next year. At 6pm, the local unit was quoted at 4.0750/0780 against the US dollar from 4.0870/0890 on Friday. The ringgit was traded mostly higher against a basket of other major currencies. It rose against the Singapore dollar to 3.0163/0192 from 3.0191/0217 on Friday, and advanced against the yen to 3.5941/5974 from 3.5983/6011 previously. It traded higher against the pound at 5.4487/4535 from 5.5076/5107 on Friday, but depreciated against the euro to 4.8069/8116 from 4.7961/7997 previously.

Source: New Strait Times December 11, 2017 11:48 UTC