Recommend Us | About Us | Back to Bernama.com

News | Financial Calculator | Home Financing | Archived News |

 

  Welcome to Bernama Banking & Finance Special Page     
 
Ringgit rebounds against US Dollar
Last update: 14/08/2019

KUALA LUMPUR, Aug 14 (Bernama) -- The ringgit rebounded slightly to close higher against the US dollar today as risk appetite for riskier assets improved after the United States made trade concessions to China.

At 6 pm, the ringgit finished at 4.1870/1900 against the greenback from Tuesday’s close of 4.1960/1990.

Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid said demand for the ringgit turned better as investors cheered up the delay in the US tariff against some imports from China.

The 10 per cent tariff, scheduled to begin next month on certain products including laptops and cell phones, is delayed to Dec 15.

“That provided some relief, perhaps spurring hope that an amicable solution could be achieved at some point in the future.

“However, the situation is very much fluid, and expect foreign exchange markets to remain defensive, leading to higher demand for saf- haven currencies such as the US dollar,” he told Bernama.

Similarly, the ringgit was traded firmer against a basket of major currencies. 

It rose against the Singapore dollar to 3.0192/0224 from 3.0213/0252 recorded on Tuesday, and increased versus Japanese yen to 3.9359/9398 from 3.9905/9945.

The local currency appreciated against the British pound to 5.0575/0628 from 5.0633/0703 and edged up vis-a-vis the euro to 4.6802/6840 from 4.7016/0654 previously.

-- BERNAMA


 


 <Back>

Bank Muamalat's Mohd Arfaizal emerges champion of BNM's elocution contest
Dryer cabin project generate economy of fishermen in Kampung Talun, Bongawan

 
Bank Muamalat collaborates with Alibaba cloud to expedite financial inclusion

Insurance coverage for longhouses
AIA appoints Ben Ng as CEO

 
CIMB Islamic, Takaful Ikhlas partnership eyes RM168 mln of business

MIDDAY, WEDNESDAY, AUG 21
US4.1710/1760
S'pore3.0137/0186
100 Yen3.9164/9222
Sterling5.0715/0793
Euro4.6277/6341
Source: Bank Negara Malaysia

Reduction in the overnight policy rate (OPR) by Bank Negara Malaysia would be good for consumer spending and investment;
Yes
No
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This material may not be published, broadcast, rewritten or redistributed in any form except with the prior written permission of BERNAMA.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