Kuala Lumpur:The ringgit closed higher on Thursday against most ASEAN currencies, but fell against the US dollar in response to a renewed surge in oil prices and escalating geopolitical tensions in West Asia.

According to BERNAMA News Agency, the ringgit slightly decreased to 4.0890/0940 against the US dollar from Wednesday's close of 4.0850/0895. Dr. Mohd Afzanizam Abdul Rashid, chief economist at Bank Muamalat Malaysia Bhd, noted that Brent crude prices rose by 4.08 percent to US$104.29 per barrel, with the West Asia conflict expected to continue. Additionally, concerns regarding fiscal stability in Europe, particularly in France, have contributed to a stronger US dollar as traders seek safe havens.

At the market close, the ringgit showed mixed performance against major currencies. It strengthened against the British pound to 5.3930/3996 from 5.4049/4108 and gained against the euro to 4.5719/5775 from 4.5740/5790. However, it weakened against the Japanese yen to 2.5834/5867 from 2.5797/5827.

The ringgit mostly improved against its ASEAN counterparts. It edged up against the Singapore dollar to 3.1893/1934 from 3.1919/1957 and appreciated against the Philippine peso to 6.50/6.51 from 6.51/6.52. It also advanced against the Indonesian rupiah to 228.2/228.6 from 228.3/228.7, although it weakened against the Thai baht to 12.1371/1563 from 12.1217/1386.