KUALA LUMPUR : The ringgit closed higher against the US dollar today on positive external sentiments, said a dealer. At 5pm, the local unit was quoted at 3.2410/2430 against the greenback compared with Tuesday's 3.2425/2455.
The dealer said the release of China's first-quarter economic growth today, which exceeded expectations, helped boost investor confidence.
"The gross domestic product growth of 7.4% in the first quarter was below the government's official target of 7.5 per cent for this year.
"It, however, surpassed market expectation of 7.3%," she said. The local unit depreciated against the Singapore dollar to 2.5889/5915 from 2.5884/5920 on Tuesday and fell against the euro to 4.4878/4912 from 4.4734/4788 yesterday.
It fell against the British pound to 5.4475/4521 from 5.4195/4255 previously. The ringgit, however, rose against the yen to 3.1663/1695 from 3.1855/1894 on Tuesday. – Bernama
