KUALA LUMPUR — The ringgit closed higher against the US dollar today, supported by a sharp decline in global oil prices following signals that the conflict involving Iran could end sooner than expected.
An analyst said the easing of geopolitical tensions helped stabilise global markets, with crude oil prices dropping significantly after remarks by Donald Trump suggesting the war involving Iran might end quickly.
The lower oil prices improved market sentiment and supported the local currency, as investors responded positively to signs of reduced geopolitical risks in the region.
–BERNAMA
