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Wednesday, January 7, 2015

Ringgit FALLS again, 3.60 against US dollar in sight

Ringgit FALLS again, 3.60 against US dollar in sight
KUALA LUMPUR - The ringgit continued to close lower compared to the US dollar today as the greenback remained broadly steady against other major currencies, a dealer said.
At 5 pm, the local note was quoted at 3.5800/5820 against the greenback compared with 3.5555/5575 on Tuesday.
The dealer said, however, the local currency pared losses during today's trading on the back of Malaysia's positive trade data.
Malaysia's November exports rose by 2.1 per cent year-on-year while imports remained flat from a year earlier, causing the trade suplus to surge to a three-year high, he told Bernama.
"This positive sentiment had provided a breather to the sliding ringgit," he added.
The ringgit was also traded mostly lower against other major currencies, except for the British pound.
It depreciated against the euro to 4.2484/2518 from 4.2467/2498 on Tuesday, slipped against the yen to 3.0064/0083 from 2.9903/9933 and fell against the Singapore dollar to 2.6786/6805 from 2.6678/6708 previously.
The local unit strengthened against the pound to 5.4151/4192 from 5.4193/4238 on Tuesday. - BERNAMA

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