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The ringgit opened higher against the US dollar on a Tuesday, extending the previous day's gains as demand for the local currency rose with surging crude oil prices. Brent gained about 0.5% to near US$60.85 per barrel.
The ringgit also weakened against the euro, yen and pound.
Higher crude prices support the ringgit as a petro-currency and can lift biofuel-linked demand for palm oil, which supports vegetable oil prices.
theins.newsOct 22, 2019Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
