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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 Tue 19 Nov 2013, 17:54

Ringgit closes higher against US dollar
Business & Markets 2013
Written by Bernama   
Tuesday, 19 November 2013 17:29
KUALA LUMPUR (Nov 19): The ringgit closed sharply higher against the US dollar today on stronger demand for the local note, said dealers.
At 5 pm, the ringgit was quoted at 3.1770/1800 to the greenback from 3.1880/1910 on Monday. 
A dealer said the local unit appreciated in line with most emerging Asian currencies on higher capital inflow into the region, triggered by expectations that the US Federal Reserve would take its time before tapering monetary stimulus.
"The risk appetite of investors towards emerging Asian currencies was also bolstered by China's economic reform plans," the dealer added.   
Meanwhile, the ringgit traded higher against other major currencies.
The local unit appreciated against the Singapore dollar to 2.5534/5565 from 2.5563/5608 yesterday, and strengthened against the yen to 3.1846/1892 from 3.1918/1955 previously.
The ringgit also advanced against the euro at 4.2944/2990 from 4.3032/3079 on Monday and rose against the British pound to 5.1131/1185 from 5.1458/1516.
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