RINGGIT TO APPRECIATE FURTHER NEXT WEEK

KUALA LUMPUR, April 9 (Bernama) -- The ringgit is expected to strengthen
further against the greenback next week as persistent funds flowed into the
country to boost the local unit, dealers said.

The uptrend, seen since last Friday, continued unabated this week as the
market reacted positively to a rate hike by the European Central Bank (ECB) on
Thursday which exerted some pressure on the US dollar worldwide.

They said market speculation of a further rate hike by the ECB was likely to
push the local unit towards the 3.01 level, versus the US dollar, next week.

The dealer said the greenback was also under pressure on the possibility
the US may face a government shutdown following President Barack Obama and the
Congress's failure to approve the Federal budget.

However, the dollar could find some support next week as demand resumed for
the safe haven after Thursday's earthquake in Japan, Portugal's budget deficit
and the depreciation of the euro after its recent high.

For the week just-ended, the market moved within a tight range, touching a
high of 3.02 on Friday, but came off its highs on profit taking.

The ringgit closed little changed versus the US dollar at 3.0215/0232, from
the 3.0250/0260, recorded last Friday.

It depreciated against the Singapore dollar to 2.4034/4049, from 2.3977/3991
previously, but rose against the Japanese yen to 3.5455/5484 from last week's
3.6137/6166.

The local unit was also lower against the British pound at 4.9565/9605, from
4.8506/8531 previously, and dipped against the euro to 4.3519/3549 from
4.2849/2872, last Friday.