Recommend Us | About Us | Back to Bernama.com

News | Financial Calculator | Home Financing | Archived News |

 

  Welcome to Bernama Banking & Finance Special Page     
 
Ringgit†closes lower against US dollar on weak buying interests
Last update: 16/04/2018

By Rosemarie Khoo Mohd Sani

KUALA LUMPUR, April 16 (Bernama)†-- The ringgit†extended last Friday's losses to close†lower against the US dollar today on weak buying interests, tracking the regional sentiments which remained clouded amid geopolitical and trade tensions, dealers said.†

At 6 pm, the ringgit†was quoted at 3.8865/8905†compared with Friday's close of 3.8785/8815.

OANDA's Head of Trading in Asia-Pacific, Stephen Innes,†said the Malaysian bond and currency markets would likely remain quiet but trade defensively as†the 14th†General Election nears.††

"While oil prices continue to support the ringgit, there is†no escaping the escalating geopolitical tensions and possible trade war escalation which continues to bubble under the surface," he told Bernama.†

He said with a near-term bottom in place around 3.87 for the ringgit, traders were†taking to the sidelines waiting for better levels to buy the ringgit.†

"However, until the regional risk sentiment improves, the ringgit and other Asian currencies†will continue to struggle over the near term.

"We should expect ringgit†to consolidate at the upper end of near term ranges between 3.88 and 3.90 against the greenback," said Innes.†

The ringgit†was traded lower against a basket of major currencies.

It eased against the Singapore dollar to†2.9634/9669†from 2.9573/9603 on Friday and†depreciated against the yen to†3.6251/6292 from 3.6042/6080 last Friday.†

The ringgit†declined†against†euro†to†4.8049/8110 from 4.7837/7878 last week and versus†the British pound,† it fell†to 5.5585/5646 from 5.5393/5451†previously.

†--†BERNAMA


 <Back>

Islamic Banks eyes bigger trade financing mart share
Maybank†Islamic CEO Mohamed Rafique Appointed IBFIM Chairman

 
Islamic finance must be proactive to reduce poverty, inequality - Sultan Nazrin

CIMB targets RM200 mln in non-life insurance premiums this year
AAGI, MAB launch AXA SmartAid for the Visually Impaired

 
Credit ratings of Energas Insurance, stable - A.M. Best

CLOSING, THURSDAY, APRIL 19
US 3.8890/8920
S'pore 2.9694/9728
100 Yen 3.6214/6252
Sterling 5.5204/5263
Euro 4.8103/8144
Source: Bank Negara Malaysia

Starting April the banks have imposed a 50 sen processing fee on top of the 15 sen stamp duty on each cheque. The fee also applies to those applying for a Bankerís Cheque, Bank Draft and Cashierís Order. Do you think this additional charge is justified?
 

 
  Main | News | Insurance

© 2018 BERNAMA. All Rights Reserved. Disclaimer | Privacy Policy| Security Policy
This material may not be published, broadcast, rewritten or redistributed in any form except with the prior written permission of BERNAMA.
Best viewed in Firefox 8.0 & Internet Explorer 8.0 with 1024 x 768 resolution