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Ringgit closes higher against US dollar

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Ringgit closes higher against US dollar Empty Ringgit closes higher against US dollar

Post by Cals Thu 14 Nov 2013, 21:23

Ringgit closes higher against US dollar
Business & Markets 2013
Written by Bernama   
Thursday, 14 November 2013 17:34
KUALA LUMPUR (Nov 14):  The ringgit closed higher against the US dollar today on rising appetite for Asian currencies including the local unit, dealers said.
At the close, the ringgit appreciated against the greenback to 3.2040/2070 from 3.2100/2130 on Wednesday.
A dealer said that most investors took the decision to leave the greenback after the US Federal Reserve Vice-Chair Janet Yellen suggested that the US economy might need stimulus for quite some time.
"The Indonesian rupiah was the top pick among emerging Asian currencies at the moment while the South Korean won and the Malaysian ringgit were chosen by investors to cover their short-positions," he said.
The ringgit traded mostly lower against other major currencies today.
The local note appreciated against the Singapore dollar to 2.5683/5712 from 2.5688/5716 and unchanged against the yen to 3.2255/2102 from 3.2255/2301 on Wednesday.
Against the British pound, the ringgit fell to 5.1360/1424 from 5.0997/0051, but strengthened to 4.3107/3157 from 4.3120/3167 against the euro.
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