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Tuesday, 26 December 2017

Early 2018 BNM will increase the overnight policy rate; depreciated against the Singapore dollar; weakened against the euro; ringgit rose against the yen; improved against the British pound

Malaysia: The ringgit opened marginally higher against the greenback today, on market expectation that Bank Negara Malaysia will increase the overnight policy rate in early 2018.
As at 9.04am, the local unit stood at 4.0750/0800 against the US dollar, from 4.0770/0800 at the close last Friday.
The ringgit was traded mixed against a basket of other major currencies.
It depreciated against the Singapore dollar to 3.0324/0366 from 3.0317/0346 last Friday, and weakened against the euro to 4.8346/8421 from 4.8304/8344.
The ringgit rose against the yen to 3.5947/6001 from 3.5965/5998, and improved against the British pound to 5.4487/4570 from 5.4587/4639 last week.

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