Bursa Alert
Global Market
NewsRinggit recovers from recent steep losses
Page 1 of 1
Ringgit recovers from recent steep losses
by Cals Fri 16 Aug 2013, 19:16
Ringgit recovers from recent steep losses
Business & Markets 2013
Written by Bernama
Friday, 16 August 2013 17:49
KUALA LUMPUR (Aug 16): The ringgit closed higher against the US dollar today, recovering from recent steep losses, driven by hopes that a pick up in Malaysia's economy in the second quarter could help in bolstering the ringgit, which has been on a sliding trend since middle of May, dealers said.
Economists are projecting a pick up in Malaysia's economy in the second quarter, supported by domesic demand and government spending.
The ringgit gained against the US dollar at 3.2748/2778, from 3.2750/2780 yesterday.
The local currency also rose against the Singapore dollar to 2.5784/5818, from 2.5791/5823 yesterday, but was lower against the yen at 3.3588/3632, from 3.3453/3500 on Thursday.
The local currency was also traded lower against the British pound to 5.1218/1275, from 5.1011/1071 yesterday, and was easier against the euro to 4.3676/3719, from 4.3518/3568 on Thursday.
Business & Markets 2013
Written by Bernama
Friday, 16 August 2013 17:49
KUALA LUMPUR (Aug 16): The ringgit closed higher against the US dollar today, recovering from recent steep losses, driven by hopes that a pick up in Malaysia's economy in the second quarter could help in bolstering the ringgit, which has been on a sliding trend since middle of May, dealers said.
Economists are projecting a pick up in Malaysia's economy in the second quarter, supported by domesic demand and government spending.
The ringgit gained against the US dollar at 3.2748/2778, from 3.2750/2780 yesterday.
The local currency also rose against the Singapore dollar to 2.5784/5818, from 2.5791/5823 yesterday, but was lower against the yen at 3.3588/3632, from 3.3453/3500 on Thursday.
The local currency was also traded lower against the British pound to 5.1218/1275, from 5.1011/1071 yesterday, and was easier against the euro to 4.3676/3719, from 4.3518/3568 on Thursday.
Cals- Administrator
- Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : “My plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€
d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis
Similar topics» Nikkei edges up after recent steep losses, eyes on exporters as yen gains
» Rubber extend losses on strengthening ringgit
» Banks help cushion losses, ringgit weakens
» Ringgit reverses losses on bond demand
» Highlight KLCI pares losses as ringgit weakens
» Rubber extend losses on strengthening ringgit
» Banks help cushion losses, ringgit weakens
» Ringgit reverses losses on bond demand
» Highlight KLCI pares losses as ringgit weakens
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum