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Ringgit ends lower against US Dollar
Last update: 16/05/2018

KUALA LUMPUR, May 16 (Bernama)†--†The ringgit closed lower against the US dollar†today on better demand for the greenback, following a†surge in US†bond yields.

At 6 pm, the ringgit was quoted at 3.9650/9700 against the US dollar†from yesterday's close† 3.9540/9580.

A dealer said the local unit's decline was in line with the downtrend in Asian currencies as foreigners†heavily sold in Asian bond markets.

"Malaysian bonds saw foreign outflows of US$1.2 billion in April," he added.

Meanwhile, the local note traded mostly higher†against a basket of major currencies, except against the yen whereby it fell to†3.5993/6042 from 3.5972/6081 yesterday.

It rose†against the†Singapore dollar†to 2.9530/9569 from 2.9578/9617, appreciated vis-a-vis the British pound to 5.3416/3500 from 5.3565/3635 and increased†against the euro†to†4.6811/6886 from 4.7155/7211.



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US 4.0470/0500
S'pore 2.9655/9688
100 Yen 3.5973/6010
Sterling 5.3574/3626
Euro 4.7285/7324
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?
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