ID :
438722
Tue, 03/07/2017 - 13:04
Auther :
Shortlink :
https://oananews.org//node/438722
The shortlink copeid
Malaysian Ringgit Extends Gains Against Greenback
KUALA LUMPUR, March 7 (Bernama) -- The Malaysian ringgit extended its gains for the second consecutive day against the US dollar today on renewed demand for the local note, dealers said.
At 6pm, the local unit was traded at 4.4450/4490 against the greenback from 4.4460/4500 Monday.
A dealer said short-covering and hedge buying emerged among exporters.
"The ringgit, together with most emerging Asian currencies, edged higher today as the greenback again came under profit taking pressure after the US Federal Reserve plan on interest rate hike was largely priced in," he added.
The local note also traded higher against other major currencies.
It rose against the Singapore dollar to 3.1491/1524 from 3.1534/1565 yesterday and versus the yen, it improved to 3.8991/9030 from 3.9103/1148.
The ringgit appreciated against the euro to 4.6953/6999 from 4.7136/7183 on Monday and was higher against the British pound at 5.4238/4291 from 5.4504/4570 yesterday.
-- BERNAMA