KUALA LUMPUR: The ringgit rebounded against the US dollar at the close today on the back of the greenback's weakness as investors turned pessimistic of

another interest rate increase by US Federal Reserve this year.

At 6pm, the local unit stood at 4.2770/2800 against the greenback compared with Wednesday's close of 4.2840/2870.

A dealer said the greenback has been weighed down largely by uninspiring US economic data, particularly sluggish inflation, adding to uncertainty about the prospect of another US interest rate increase in the coming months.

The ringgit was also higher against a basket of major currencies.

It rose against the Singapore dollar to 3.1451/1480 from 3.1507/1541 on Wednesday and versus the yen,  appreciated to 3.8667/8698 from 3.8668/8705 yesterday.

It strengthened against the British pound to 5.6606/6659 from 5.6660/6717 yesterday and firmed against the euro to 5.0657/0705 from 5.0710/0754 on Wednesday.  — Bernama