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Friday, 8 June 2018

Malaysia local unit traded mostly higher due to uncertainty in the local economic condition in the early session.

Malaysia: The ringgit was slightly lower against the US dollar in the early session today due to uncertainty in the local economic condition, a dealer said.
At 9.27 am, the ringgit was quoted at 3.9790/9820 from 3.9750/9780 recorded at yesterday’s close.
The dealer said besides the obvious fiscal uncertainties in the country, the local currency continued to be weakened by the lack of action in the bond markets.
Meanwhile, the local unit traded mostly higher versus a basket of currencies except for the yen, against which it fell to 3.6229/6266 from 3.6159/6190.
It rose against the Singapore dollar to 2.9834/9877 from 2.9849/9876 recorded yesterday, and improved to 5.3386/3450 from 5.3472/3524 vis-a-vis the British pound.
The ringgit inched up against the euro to 4.6976/7019 from 4.6977/7024.

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