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Ringgit tests 2.9950 level
by hlk Fri 08 Jul 2011, 12:23
KUALA LUMPUR: The ringgit tested the 2.9950 level against the US dollar at 9.24am as market players responded positively to Bank Negara Malaysia's decision to raise the statutory reserve requirement (SRR) ratio yesterday, dealers said.
The central bank, however, surprised the market by retaining the overnight policy rate at 3.00 per cent.
The local unit was quoted at 3.0070/0110 at 5pm yesterday. It last hit an all-time high of 2.9612 on April 28.
Meanwhile, the ringgit was also higher against major currencies.
The local currency rose against the Singapore dollar to 2.4489/4534, from 2.4519/4572, yesterday and appreciated against the yen to 3.6843/6885, from 3.7142/7210, previously.
The ringgit improved against the British pound to 4.7845/7902, from 4.8052/8125, on Thursday and increased against the Euro to 4.3017/3069 from 4.3030/3102, yesterday. - Bernama
The central bank, however, surprised the market by retaining the overnight policy rate at 3.00 per cent.
The local unit was quoted at 3.0070/0110 at 5pm yesterday. It last hit an all-time high of 2.9612 on April 28.
Meanwhile, the ringgit was also higher against major currencies.
The local currency rose against the Singapore dollar to 2.4489/4534, from 2.4519/4572, yesterday and appreciated against the yen to 3.6843/6885, from 3.7142/7210, previously.
The ringgit improved against the British pound to 4.7845/7902, from 4.8052/8125, on Thursday and increased against the Euro to 4.3017/3069 from 4.3030/3102, yesterday. - Bernama
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