Kuala lumpur: The ringgit ended higher against the US dollar and other major currencies at the close on Monday, as the market reflected stabilising regional and global risk sentiment, which pushed the greenback to marginal softness amid easing safe-haven demand. At 6 pm, the local currency strengthened to 3.9260/9310 against the greenback from last Friday's close of 3.9365/9410.

According to BERNAMA News Agency, SPI Asset Management managing partner Stephen Innes said the market is assessing oil flows through the Strait of Hormuz, particularly shipments bound for India and China that appeared to be moving with some form of safe passage. Innes highlighted that traders are also weighing the effectiveness of various stopgap measures being considered by the G7 countries, including coordinated strategic petroleum reserves (SPR) releases and potential naval escorts for commercial shipping.

Meanwhile, Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid noted that Brent crude oil remained elevated at US$106.17 per barrel, as the West Asia conflict rages on, raising concerns about oil and gas flows from the region. He pointed out that there was a second attack in three days at the United Arab Emirates port of Fujairah while US President Donald Trump has called for other nations to assist in the safe passage of vessels in the Strait of Hormuz. At the time of writing, Brent Crude was 1.52 per cent higher at US$104.71 per barrel.

The ringgit also showed gains against the Japanese yen, British pound, and euro. It rose against the yen to 2.4639/4672 from 2.4683/4715 at last Friday's close, appreciated versus the pound to 5.2008/2074 from 5.2214/2273, and strengthened vis- -vis the euro to 4.4945/5002 from 4.5093/5144. Additionally, the local currency traded higher against most ASEAN currencies, firming against the Singapore dollar, bouncing versus the Thai baht, and edging up vis- -vis the Indonesian rupiah. The ringgit also advanced against the Philippine peso to 6.55/6.56 from 6.59/6.60 previously.