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Ringgit opens higher against US dollar
by hlk Wed 18 Jul 2012, 13:36
The ringgit strengthened against the US dollar this morning as more investors were shifting their appetite to riskier currencies, including the ringgit, dealers said.
At 9.20 am, the ringgit was quoted at 3.1545/1578 against the greenback, up from 3.1625/1650 at 5 pm yesterday.
One dealer said the regional market had benefited from the slowdown in the US economy.
"Even Federal Reserve Chairman Ben Bernanke said the central bank is ready to support the US economy if needed, gains were still limited as the Fed chief remained vague about specific steps," he added.
Meanwhile, the ringgit appreciated against the Singapore dollar to 2.5058/5100 from Tuesday’s 2.5063/5099 and rose against the yen to 3.9885/9942 from 3.9986/4033 yesterday.
The local unit rose against the British pound to 4.9377/9445 from
4.9405/9450 on Tuesday and strengthened against the euro to 3.8785/8828 from 3.8889/8930 yesterday. Bernama
At 9.20 am, the ringgit was quoted at 3.1545/1578 against the greenback, up from 3.1625/1650 at 5 pm yesterday.
One dealer said the regional market had benefited from the slowdown in the US economy.
"Even Federal Reserve Chairman Ben Bernanke said the central bank is ready to support the US economy if needed, gains were still limited as the Fed chief remained vague about specific steps," he added.
Meanwhile, the ringgit appreciated against the Singapore dollar to 2.5058/5100 from Tuesday’s 2.5063/5099 and rose against the yen to 3.9885/9942 from 3.9986/4033 yesterday.
The local unit rose against the British pound to 4.9377/9445 from
4.9405/9450 on Tuesday and strengthened against the euro to 3.8785/8828 from 3.8889/8930 yesterday. Bernama
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