KUALA LUMPUR: The ringgit ended higher against the US dollar today despite the likely US Federal Reserve (Fed) interest rate increase this month, dealers said.
At 5pm, the ringgit was quoted at 4.2250/2310 against 4.2300/2350 on Wednesday.
A dealer said the local note eased earlier on Fed hint yesterday of a rate increase which also set other regional currencies on a decline.
Fed has been keeping its rates close to zero since 2008.
He added that China's move to acquire Malaysian government debt, which would boost foreign investor confidence in Malaysia and stabilise the ringgit, might also be the supporting factor for the ringgit today.
The local unit was mostly higher against other major currencies.
It rose against the Singapore dollar to 2.9941/9996 from on 3.0017/0059 on Wednesday and appreciated against the yen to 3.4211/4267 from 3.4346/4400 yesterday.
The local currency rose against the British pound to 6.3041/3152 from 6.3742/3826 yesterday and increased against the euro to 4.4675/4747 from 4.4914/4971 previously. — Bernama
Source: http://www.thesundaily.my/news/1628714
No comments:
Post a Comment