Nov 21: Ringgit hits 13-month high against US dollar

Publish date: Tue, 21 Nov 2017, 07:54 PM

KUALA LUMPUR: The ringgit continued its uptrend to hit a 13-month high against the US dollar today.

The local unit ended at 4.1380/1420 against the greenback, up 100 basis points from 4.1480/1510 recorded on Monday. This level was last seen on Oct 10, 2016.

Dealers said the ringgit was buoyed by expectations that Bank Negara Malaysia will increase the overnight policy rate by 25 basis points following Malaysia's strong 6.2 per cent economic growth recorded in the third quarter of this year.

The ringgit was also traded higher against a basket of major currencies.

It rose against the Singapore dollar to 3.0525/0568 from 3.0599/0623, and strengthened versus the euro to 4.8526/8586 from 4.8917/8961 on Monday.

It increased against the British pound to 5.4779/4836 from 5.5073/5134 on Monday, and improved vis-a-vis the yen to 3.6805/6844 from 3.6993/7026 yesterday. -- BERNAMA

Discussions
Be the first to like this. Showing 6 of 6 comments

apolloang

but bursa everyday losers led gainers

2017-11-21 21:02

TheContrarian

Yes, this is very strange. Is the reported exchange rate real? When I was in Thailand over the weekend I was told that Ringgit actually fell!

2017-11-21 21:09

CharlesT

Rm rise against usd but may drop against some other currencies

2017-11-21 21:11

jackfruit

That will be bad for our export . Our trade balance will be in jeopardy in coming months

2017-11-21 21:49

apolloang

mana can 2.70,overall market so bad

2017-11-21 21:54

CharlesT

True...rm strengthen against most currencies...even thai baht

2017-11-21 21:55

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