Ringgit closes higher against US dollar

At 6 pm, the local currency was traded at 4.1500/1550 versus the greenback compared with 4.1620/1660 last Friday.

Last week, news emerged that President Trump, First Lady Melania and several of their top aides had been infected with COVID-19, jolting the US stock markets.

The Dow Jones, S&P 500 and Nasdaq ended in negative territory on Friday, sliding down by 0.48 per cent, 0.96 per cent and 2.22 per cent, respectively.
 

However, news that Trump may be discharged from the hospital later today helped to raise oil prices by about two per cent.

At press time, Brent crude oil price rose 3.57 per cent to US.67 per barrel.

Additionally, news reports stating that the White House is in the midst of preparing another stimulus package also boosted the global stocks market today.

Meanwhile, the ringgit was traded mostly higher against other major currencies.

It rose against the Singapore dollar to 3.0501/0540 from 3.0502/0543 last Friday and improved against the British pound at 5.3743/3824 from 5.3748/3821.

The local currency fell against the euro to 4.8792/8854 from 4.8766/8830 but appreciated versus the yen to 3.9292/9347 from 3.9582/9631 previously.