Ringgit Higher on Strong Buying Interest

Published: 2011/05/11

The ringgit was traded higher against the US dollar in the early session today on strong buying interest for the domestic currency, dealers said.

At 9.04am, the ringgit was quoted at 2.9780/9811 per US dollar compared with 2.9880/9911 at yesterday's close.

The uptrend was in line with other Asian currencies as sentiments in the region were boosted by some positive earnings report from Japan and firming commodity prices, he said.

One dealer said the ringgit was also riding on the weakening of the greenback across the board.




Against other major currencies, the ringgit was traded higher.

The ringgit appreciated against the Singapore dollar to 2.4204/4248 from 2.4230/4274 yesterday, was higher against the British pound to 4.8741/8801 from 4.8899/8958 on Tuesday and rose against the euro to 4.2886/2934 from 4.2893/2949 yesterday.

However, the ringgit weakened against the Japanese yen to 3.6815/6863 from 3.7031/7083 yesterday. - Bernama


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