Ringgit rebounds to close higher against US dollar

 Publish date: Thu, 7 Nov 2019, 6:42 PM

KUALA LUMPUR: The ringgit rebounded from yesterday’s losses to end higher against the US dollar today, as growing optimism on the US-China trade negotiations drove investors away from safe-haven currencies, dealers said.
At 6 pm, the ringgit was quoted at 4.1225/1255 against the greenback from 4.1350/1380 on Wednesday.
A dealer said that China’s Commerce Ministry’s spokesperson today said that Beijing had agreed with Washington to lift existing trade tariffs between the two nations in phases.
Both sides had agreed to simultaneously cancel some existing tariffs on each other’s goods,” he said, adding this positive development had boosted investors’ optimism and improve market sentiment, thus reducingdemand for safe-haven currencies.
A news report quoted the ministry spokesperson as saying that China and the US were closer to a “phase one” trade agreement following constructive negotiations over the past two weeks.
Meanwhile, the local note traded higher against other major currencies.
The ringgit strengthened against the Singapore dollar to 3.0382/0408 from 3.0434/0460 on Wednesday and went up against the yen to 3.7797/7828 from 3.7946/7984.
It appreciated against the British pound to 5.3036/3095 from 5.3275/3331 and increased versus the euro to 4.5661/5706 from 4.5861/5899.
 - Bernama
Share this

  Be the first to like this.

I3 Messenger
Individual or Group chat with anyone on I3investor
MQ Trader
View candlestick stock charts with Technical indicators
MQ Affiliate
Be rewarded by being an MQ Affiliate

529  557  546  538 

Top 10 Active Counters
 KANGER 0.185+0.005 
 AT 0.200.00 
 BINTAI 0.795+0.10 
 KGROUP 0.060.00 
 MTRONIC 0.115+0.005 
 ASIABIO-OR 0.015+0.005 
 IRIS 0.36+0.005 
 VIVOCOM 1.01+0.205 
 FINTEC 0.105+0.01 
 SOLUTN 1.27+0.15 


1. The Equity Market Index Benchmark in Malaysia CMS
2. Trading Scenarios of Derivatives Bursa Derivatives Education Series
3. Derivatives 101 Bursa Derivatives Education Series
4. Why Trade FKLI? Bursa Derivatives Education Series
5. MQ Trader - Introduction to MQ Trader Affiliate Program MQ Trader Announcement!