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Saturday, 26 August 2017

Major currencies, the #Ringgit closes higher.


Malaysia: The ringgit closed higher against the US dollar and other major currencies today on continued demand and in tandem with improved global oil prices and emerging-market currencies.

At 6pm, the local unit was quoted at 4.2710/2740 against the greenback, from Thursday's 4.2780/2810.

OANDA Senior Market Analyst Jeffrey Halley said the ringgit strengthened as investors are closely monitoring the annual Jackson Hole Economic Policy symposium in the United States today.

"With the ringgit continuing its rally against the US dollar along with other emerging market currencies, we expect the greenback's weaknesses to linger into next week," said Halley.

In addition, the benchmark Brent crude traded 0.63 per cent higher at US$52.37 per barrel.

Against other major currencies, the ringgit rose against the yen to 3.8980/8011 from 3.9111/9142 on Thursday, and strengthened versus the Singapore dollar to 3.1397/1426 from 3.1419/1453 yesterday. It improved against the euro to 5.0411/0455 from 5.0438/0482 on Thursday, and appreciated against the British pound to 5.4801/4844 from yesterday's 5.4861/4904.

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