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Tuesday, 1 August 2017

In early trade on 8/1 'Month-end exporters' demand for the ringgit.

Malaysia: The ringgit opened higher against the US dollar in early trade, on mild demand from exporters and the greenback's renewed weakness, a currency dealer said.
At 9am, the local unit stood at 4.2745/2775 against the greenback, compared with yesterday's close of 4.2800/2830.
"Month-end exporters' demand for the ringgit, coupled with expected weakness in US (economic) data and concerns that US economic growth could be slowing down have lent support to the ringgit.
However, the ringgit eased against other major currencies.
It traded slightly higher against the Singapore dollar to 3.1537/1571 from 3.1542/1569 yesterday, but weakened against the yen to 3.8760/8798 from Monday's 3.8712/8743.
It eased against the British pound to 5.6445/6501 from 5.6128/6180 yesterday, and depreciated against the euro to 5.0546/0599 from 5.0217/0261 on Monday.

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