KUALA LUMPUR: The ringgit strengthened against the US dollar, other major currencies, and ASEAN peers at Wednesday’s close following news that the International Energy Agency (IEA) has proposed releasing oil reserves, which could help stabilise global crude oil prices. At 6 pm, the local currency rose to 3.9175/9230 against the greenback from Tuesday’s close of 3.9200/9260. At the time of writing, the price of Brent crude rose 4.24 per cent to US$91.52 per barrel. At the close, the ringgit rose against the Japanese yen to 2.4719/4755 from 2.4859/4899 at Tuesday's close, climbed against the British pound to 5.2545/2619 from 5.2744/2824, and was firmer against the euro at 4.5412/5475 from 4.5668/5738. The local note also traded higher against most ASEAN currencies.

Source: The Star March 12, 2026 07:07 UTC