Recommend Us | About Us | Back to

News | Financial Calculator | Home Financing | Archived News |


  Welcome to Bernama Banking & Finance Special Page     
Ringgit ends lower against US Dollar
Last update: 09/11/2018

KUALA LUMPUR, Nov 9 (Bernama) -- The ringgit ended lower against the US dollar today in line with most Asian currencies after the US Federal Reserve (Fed) reaffirmed its hawkish monetary policy stance and stayed on course for a December interest rate hike.

At 6 pm, the ringgit stood at 4.1780/1810 versus the greenback from Thursday’s close of 4.1620/1670.

OANDA Head of Trading Asia-Pacific Stephen Innes said the ringgit continued to struggle due Bank Negara Malaysia and the Fed’s policy divergence.

“I'm more bearish on the ringgit than I've been in some time, and now looking for a test at 4.20 against the greenback in the weeks ahead,” he said.

Yesterday, BNM’s Monetary Policy Committee maintained the Overnight Policy Rate at 3.25 per cent, a level which is considered accommodative and consistent with the intended policy stance.

The local unit, however, was mostly higher against other major currencies.

The ringgit rose against the Singapore dollar to 3.0315/0341 from 3.0344/0385 on Thursday, but vis-a-vis the Japanese yen, it depreciated to 3.6685/6714 from 3.6605/6659.

It increased against the British pound to 5.4343/4386 from yesterday’s 5.4589/4659 and strengthened against the euro to 4.7362/7413 from 4.7534/7600 previously. 




Alliance Islamic Bank aims to maintain double-digit growth
King's scholarship programme opens for application

Instill investor confidence to sustain growth, says Wahid Omar

Takaful protection value to hit RM400 bln by year-end
Life Insurance records moderate growth in 2018 - LIAM

Zurich appoints Mukesh as ZTMB CEO effective March 1

100 Yen3.6613/6659
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 Banker’s Cheque, Bank Draft and Cashier’s Order. Do you think this additional charge is justified?
Not Sure
  Main | News | Insurance

© 2019 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This material may not be published, broadcast, rewritten or redistributed in any form except with the prior written permission of BERNAMA.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