Ringgit hits 3.1460 against greenback
RINGGIT
THE ringgit closed firmer against the US dollar yesterday to hit a high of 3.1460.
RAM Holdings Bhd economist, Jason Fong, said the appreciation of the ringgit was attributed to the widening interest rate differential between Malaysia and the advanced economies, particularly the US and Europe.
INTERBANK RATES
KLIBOR
THE three-month Kuala Lumpur Interbank Offered Rate (KLIBOR) futures on Bursa Malaysia Derivatives were untraded yesterday.
The August 2010, September 2010 and October 2010 contracts remained at Thursday's settlement prices of 97.13, 97.03 and 96.97 respectively.
The five-year Malaysian Government Securities futures were also untraded throughout the day. Meanwhile, the underlying three-month KLIBOR was flat at 2.91 per cent. - Bernama
THE ringgit closed firmer against the US dollar yesterday to hit a high of 3.1460.
At 5pm, the ringgit strengthened to 3.1460/1490 against the greenback compared with 3.1540/1570 Thursday.
RAM Holdings Bhd economist, Jason Fong, said the appreciation of the ringgit was attributed to the widening interest rate differential between Malaysia and the advanced economies, particularly the US and Europe. "Furthermore, Asia's better growth prospects relative to advanced economies have likewise fueled the ringgit's strength, and is expected to continue to do so in coming months," he told Bernama yesterday.
Against other major currencies, the ringgit appreciated against the Singapore dollar to 2.3274/3317 from 2.3293/3340 and the yen to 3.6547/6586 from3.6560/6599.
It rose against the British pound to 4.9867/9924 from 4.9944/9010 and against the euro to 4.1489/1538 from 4.1529/1578.
INTERBANK RATES
SHORT-term rates closed steady yesterday with Bank Negara Malaysia mopping up excess liquidity from the system.
The overnight rate was quoted at 2.72 per cent while the one-week, two-week and three-week rates were at 2.76 per cent, 2.78 per cent and 2.79 per cent respectively.
Bank Negara had earlier estimated yesterday's surplus at RM23.272 billion in conventional operations and RM4.016 billion in Islamic funds.
After its early intervention, liquidity surplus dropped to RM10.961 billion in conventional operations and to RM4.016 billion in Islamic funds.
The central bank later issued another conventional tender for RM11 billion for three days and an Al-Wadiah tender for RM4 billion also of three-day money.
KLIBOR
THE three-month Kuala Lumpur Interbank Offered Rate (KLIBOR) futures on Bursa Malaysia Derivatives were untraded yesterday.
The August 2010, September 2010 and October 2010 contracts remained at Thursday's settlement prices of 97.13, 97.03 and 96.97 respectively.
The five-year Malaysian Government Securities futures were also untraded throughout the day. Meanwhile, the underlying three-month KLIBOR was flat at 2.91 per cent. - Bernama
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