Ringgit at 4.21 against USD

Publish date: Fri, 04 Dec 2015, 03:25 AM

KUALA LUMPUR: The ringgit opened higher in early trade against the US dollar today on mild demand for the local note.

At 9am, the ringgit was quoted at 4.2150/2200 against the greenback from 4.2250/2310 on Thursday.

A dealer, said, local sentiment had improved with the ongoing positive progress on the 1MDB issue.

On the global front, the dealer said investors are still cautious over the US dollar which fell in overnight trade, and ahead of crucial US jobs data to be released tonight.

They are also concerned over the hawkish comments by US Federal Reserve Chair, Janet Yellen, that keeping interest rates at zero for too long would create a risk to the financial stability of the US economy.

The ringgit, meanwhile, traded mixed against other major currencies.

It eased against the Singapore dollar to 3.0189/0242 from 2.9941/9996 on Thursday and depreciated against the yen to 3.4355/4410 from 3.4211/4267.

It declined against the British pound to 6.3807/3895 from 6.3041/3152 and fell against the euro to 4.6045/6116 from 4.4675/4747.-- BERNAMA

Discussions
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blackmarket

RINNGIT TARGET IN RM5 ， I BELIEVE IT VERY SOON

2015-12-04 12:03

calvintaneng

According to Calvin Tan Research

Ringgit should strengthens for these reasons:

China buying Malaysian Bonds shore up support.

Sale of imdb power assets to China company for Rm17 Billions have further instilled confidence.

Bank Negara Zeti also stated that Ringgit is undervalue.

With favorable Funds turning positive on Malaysia like Templeton, Eastspring, Aberdeen and even Forbes calling Malaysia as Top 10 Buys for Emerging Market in Year 2016 should boost inflow of funds back to Klse.

Another Big positive is the Rush of FDI INTO MALAYSIA TO SET UP FACTORIES FOR THE ADVANTAGE OF MALAYSIA BEING ONE OF THE TWELVE TRANSPACIFIC PARTNERSHIP CHOSEN NATION. To export goods to USA JAPAN CANADA MEXICO AUSTRALIA AND OTHERS.

CALVIN TAN PREDICTS THAT RINGGIT WILL STRENGTHEN BELOW US1.00 to Rm40 not far away.

THE BEST CURRENCY BUY FOR YEAR 2016 Is THE RINGGIT.

AMONG TOP TEN PERFORMING BOURSE FOR YEAR 2016 WILL BE KLSE.

AND THE BEST PLACE IN MALAYSIA TO BUY LANDED PROPERTIES IS ISKANDAR.

SO STAY INVESTED.

2015-12-04 12:58

iWarrants

agree, but has to take a last dip before the golden 2016 for KLCI

2015-12-04 13:05

YunXin

Yes, Calvin is right. Ringgit should strengthens.

2015-12-05 00:31

YunXin

Strengthen?

Harvard57 bought HIBISCS RM 2.20 , still stucked there.

HIBISCS just rebounded 12%, but from RM 0.22... ha ah aha ha hahaaa

JOKE of the YEAR

2015-12-05 00:33

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