KUALA LUMPUR: The ringgit was higher against the greenback this morning on better demand for the local note as news on higher global oil price and the US dollar's gloomy outlook helped lift sentiment towards the ringgit.At 9.09 am, the local unit stood at 4.0575/0605 against the greenback from 4.0650/0680 at the close yesterday.A dealer said investors' interest shifted from the greenback following a decline in the US' 10-year bond yields due to a weaker-than-expected US Consumer Confidence Index.“Furthermore, higher global oil price has been supporting the ringgit, as this could benefit the country's oil and gas revenue,” he said.At the close yesterday, US West Texas Intermediate crude futures rose 20 US cents to US$59.84 a barrel while Brent crude futures settled up 28 US cents at US$66.72 a barrel.Meanwhile, the ringgit was traded higher against a basket of major currencies.It appreciated against the Singapore dollar to 3.0341/0370 from 3.0372/0401 yesterday and rose against the yen to 3.5955/5988 from 3.6002/0041 on Thursday.The ringgit advanced against the euro to 4.8463/8503 from 4.8495/5543 yesterday and was higher against the British pound at 5.4565/4618 from 5.4654/4711 on Thursday.

Source: The Star December 29, 2017 02:26 UTC