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Ringgit closes sharply higher against US dollar as govt efforts to tackle deficit bears fruit

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Ringgit closes sharply higher against US dollar as govt efforts to tackle deficit bears fruit Empty Ringgit closes sharply higher against US dollar as govt efforts to tackle deficit bears fruit

Post by Cals Mon 28 Oct 2013, 23:08

Ringgit closes sharply higher against US dollar as govt efforts to tackle deficit bears fruit
Business & Markets 2013
Written by Bernama   
Monday, 28 October 2013 19:44
KUALA LUMPUR (Oct 28): The ringgit closed sharply higher against the US dollar, as government efforts to tackle fiscal deficit has helped boost local currency's strength, dealers said.

The ringgit rose against the US dollar to 3.1335/1365, from 3.1550/1585 on Friday.

The domestic currency also gained sharply against major currencies.

The local currrency closed higher against the Singapore dollar to 2.5342/5370, from 2.5516/5546 on Friday, and jumped against the yen to 3.2092/2133, from 3.2492/2532 last week.

The ringgit also appreciated against the British pound to 5.0772/0836, from 5.1152/1212 on Friday, and strengthened against the euro to 4.3271/3315, from 4.3602/3654 last week.
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