The ringgit was traded higher against the US dollar today as investors covered their short positions after Prime Minister
Datuk Seri Najib Razak announced the dissolution of Parliament, dealers said.
At 5pm, the local currency was trading at 3.0825/0845 against the US dollar, compared with 3.0865/0895 at 5pm yesterday.
A dealer said the ringgit might appreciate further, adding that the soon-to-be-held general election would help reduce political uncertainties.
Meanwhile, the local note was traded higher against other major currencies.
The ringgit rose against the Singapore dollar to 2.4883/4909 from
2.4939/4966 and was sharply higher against the Japanese yen at 3.2938/3973 from 3.3142/3192 on Tuesday.
It also strengthened against the euro to 3.9489/9534 from yesterday's 3.9643/9691 and appreciated against the British pound to 4.6557/6612 from 4.6955/6010 previously.-- Bernama
