KUALA LUMPUR: The ringgit strengthened against major and regional currencies, supported by lower crude oil prices, which helped improve risk sentiment amid ongoing United States-Iran peace negotiations.
At 6 pm, the local note appreciated to 4.0680/0735 against the greenback from 4.0860/0910 at last Friday’s close.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said lower crude oil prices were prevalent as ongoing US-Iran peace negotiations continued, although there were intermittent flare-ups in attacks.
“The West Texas Intermediate (WTI) and Brent crude prices lingered at US$70.22 per barrel and US$72.69 per barrel respectively during the day,” he told Bernama.
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