Ringgit closes higher as Strait of Hormuz tensions ease

2026-03-17 - 10:51

KUALA LUMPUR: The ringgit extended its gains on Tuesday, closing higher against the US dollar as signs of safe passage through the Strait of Hormuz eased safe-haven demand and supported regional currencies. Stephen Innes of SPI Asset Management said the vital shipping route was showing signs of recovery, with major vessels passing through in the past 24 hours despite fears of a shutdown. At 6 pm, the local currency strengthened to 3.9155/3.9200 against the greenback from Monday’s close of 3.9260 /3.9310. MORE TO COME