KUALA LUMPUR: The ringgit closed slightly higher against the US dollar today on improving sentiment as Malaysia surpassed 200,000 doses of COVID-19 vaccine per day on June 15.

At 6:00 p.m., local unity rose to 4.1155 / 1180 against the greenback against 4.1160 / 1185 at Tuesday’s close.

According to Health Minister Datuk Seri Dr Adham Baba, a total of 215,876 doses of the COVID-19 vaccine were distributed yesterday, exceeding the daily target of 200,000 set by the government as part of the national immunization program against COVID-19.

He said a total of 1,468,689 people had completed both doses of the vaccine and 3,435,420 people had received the first dose, bringing the number of doses administered in Malaysia to date to 4,904,109 people.

“The government has increased the number of vaccinations per day and, coupled with the post-COVID-19 exit plan, has pushed the ringgit up today.

“It shows the government’s commitment to dealing with the pandemic and how the country will slowly come out and embrace the new normal,” an analyst told Bernama.

Amid the positive news, however, markets were still worried ahead of the results of the special Malaysian leaders meeting today and the US Federal Open Market Committee (FOMC) which is expected to be announced later today.

The special Malaysian leadership meeting is expected to discuss issues related to the government’s efforts to tackle COVID-19 and their implementation during the ongoing emergency.

Meanwhile, the US Federal Reserve is reportedly announcing its interest rate decision after the conclusion of its two-day meeting later today.

The ringgit was trading mostly lower against a basket of major currencies.

It depreciated against the British Pound at 5.8090 / 8126 from 5.7933 / 7968 at Tuesday’s close and was virtually stable against the Euro at 4.9896 / 9927 from 4.9898 / 9929 yesterday.

Local unit eased against the Singapore dollar at 3.1032 / 1053 from 3.1024 / 1046, while against the yen it eased to 3.7431 / 7453 from 3.7364 / 7390 previously. – Bernama



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