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Ringgit opens sharply lower against US dollar on weaker demand from investor
by Cals Mon 19 Aug 2013, 10:23
Ringgit opens sharply lower against US dollar on weaker demand from investor
Business & Markets 2013
Written by Bernama
Monday, 19 August 2013 09:47
KUALA LUMPUR (Aug 19): The ringgit opened sharply lower against the US dollar in early trading today on weaker demand from investors, a dealer said.
The ringgit fell against the US dollar to 3.2800/2830 from 3.2748/2778 at Friday's close.
The dealer said investors' appetite were more shifted towards the US dollar due to strengthening of the greenback, boosted by positive US retail sales.
"This will also raise chances for the Federal Reserve to start tapering its stimulus programme," the dealer added.
The local currency also weakened against other major currencies. It eased against the Singapore dollar to 2.5808/5834 from 2.5784/5818 last week and depreciated against the yen to 3.3639/3687 from 3.3588/3632 on Friday.
The ringgit was traded slightly lower against the British pound to 5.1296/1356 from 5.1218/1275 on Friday and was easier against the euro at
4.3762/3809 from 4.3676/3719 last week.
Business & Markets 2013
Written by Bernama
Monday, 19 August 2013 09:47
KUALA LUMPUR (Aug 19): The ringgit opened sharply lower against the US dollar in early trading today on weaker demand from investors, a dealer said.
The ringgit fell against the US dollar to 3.2800/2830 from 3.2748/2778 at Friday's close.
The dealer said investors' appetite were more shifted towards the US dollar due to strengthening of the greenback, boosted by positive US retail sales.
"This will also raise chances for the Federal Reserve to start tapering its stimulus programme," the dealer added.
The local currency also weakened against other major currencies. It eased against the Singapore dollar to 2.5808/5834 from 2.5784/5818 last week and depreciated against the yen to 3.3639/3687 from 3.3588/3632 on Friday.
The ringgit was traded slightly lower against the British pound to 5.1296/1356 from 5.1218/1275 on Friday and was easier against the euro at
4.3762/3809 from 4.3676/3719 last week.
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