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Ringgit ends sharply higher against US dollar

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Ringgit ends sharply higher against US dollar Empty Ringgit ends sharply higher against US dollar

Post by Cals Sat 11 Jan 2014, 01:20

Ringgit ends sharply higher against US dollar
Business & Markets 2014
Written by Bernama   
Friday, 10 January 2014 19:50

KUALA LUMPUR (Jan 10): The ringgit closed sharply higher against the US dollar today, in line with most emerging Asian currencies, on better demand for the local note, ahead of the release of the US jobs data later today.

At 5pm, the local unit was quoted at 3.2670/2700 against the greenback, from Thursday's close 3.2745/2775.

A dealer said, the US dollar eased broadly as investors awaited the US jobs data, for clues on how aggressively the Federal Reserve would scale back its stimulus.

"The local note, which gained 0.6 per cent against the greenback so far this week, has become the best performing emerging Asian currency in the period," he said.

He said the ringgit found support from a stronger-than-expected November factory output and trade surplus. 

"The ringgit was traded at a range of 3.2637 and 3.2774 today," he said.

The local unit was traded marginally higher against the Singapore dollar, at 2.5726/5754 compared with 2.5749/5791 on Thursday, and improved against the yen to 3.1132/1167, from yesterday's 3.1212/1256.

It strengthened against the British pound to 5.3778/3841, from 5.3882/3948 previously, and rose against the euro to 4.4444/4492, from 4.4559/4603.
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