Ringgit closes slightly higher against US dollar on mild buying interest

Ringgit closes slightly higher against US dollar on mild buying interest
Business & Markets 2013
Written by Bernama
Monday, 02 September 2013 18:30

KUALA LUMPUR (Sept 2): The ringgit closed slightly higher against the US dollar at close today on mild buying interest for the local currency, dealers said.

The ringgit was quoted at 3.2725/2755 for a US dollar against Friday's close at 3.2830/2865.

Dealers said purchasing managers' data showed better-than-expected growth in the euro zone, a rebound in China's manufacturing sector and US' manufacturing activity rising to a five-month high last month.

However, gains were limited as some market players stayed cautious over widening conflict in Syria, and the US' Federal Reserve may taper the bond-buying programme, a dealer said.

Meanwhile, the ringgit was traded mostly higher against all other major currencies.

The local unit appreciated against the Singapore dollar to 2.5689/5720 from 2.5787/5813 on Friday, and was stronger against the Japanese yen at 3.2949/2983
from 3.3473/3512 last week.

Against the British pound, the local currency weakened to 5.0972/0026 from 5.0854/0918 last week, but strengthened against the euro to 4.3243/3292 from 4.3477/3533 on Friday.