At 9.04am, the local note stood at 4.1985/2030 versus the greenback compared with 4.2005/2040 yesterday.

According to an analyst, Brent crude remained above the US$100 per barrel, trading currently 4% higher at US$101.85 per barrel.

“While most emerging market currencies are easing against the US dollar due to its safe-haven attributes following the intensified conflict in Ukraine, the ringgit bucked the trend, thanks to stronger oil prices, which also led to increased foreign fund flow into the country,” she explained.

According to the MIDF Research Fund Flow report, international funds have been net buyers on the Bursa Malaysia for six of the eight weeks this year.

Foreign investors and local retailers were net buyers for the week ended Feb 25, with net inflows totalling RM867.7 million, owing to favourable conditions in the commodities, plantation, and energy sectors.

Meanwhile, the ringgit was traded higher against a basket of other major currencies.

It gained versus the Singapore dollar to 3.0910/0948 from 3.1016/1044 at the close last Friday, and appreciated vis-a-vis the British pound to 5.6147/6207 from 5.6177/6224.

The local currency improved against the yen to 3.6322/6364 from 3.6422/6455 and increased against the euro to 4.6935/6985 from 4.6966/7005 previously.