KUALA LUMPUR: The ringgit extended its positive momentum to close higher against the US dollar today following weaker demand for the greenback.

At 6 pm, the local note improved to 4.3405/3450 against the US dollar from Thursday's close of 4.3455/3510.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said market sentiment remain guarded as the world braces for the US presidential election in less than two weeks. 

"The race between Kamala Harris and Donald Trump is really close, especially among the swing states," he told Bernama.

At the close, the ringgit was mostly lower against a basket of major currencies.

It edged up versus the Japanese yen to 2.8554/8586 from 2.8589/8627 at Thursday's close, but it decreased vis-a-vis the British pound to 5.6348/6407 from 5.6331/6402 yesterday and slipped against the euro to 4.6977/7026 from 4.6918/6978 previously.

Meanwhile, the ringgit traded higher versus ASEAN currencies.

It appreciated against the Philippine peso to 7.44/7.45 from 7.49/7.51 at the close on Thursday and strengthened vis-a-vis the Singapore dollar at 3.2870/2907 from 3.2928/2972 yesterday.

The local currency also gained against the Indonesian rupiah to 277.3/277.8 from 278.8/279.3 at the previous close and climbed versus the Thai baht to 12.8425/8619 from 12.9031/9259.

- BERNAMA

TAGS: Ringgit, Closing, US dollar, US presidential election, Mohd Afzanizam Abdul Rashid