KUALA LUMPUR: The ringgit closed sharply higher against the US dollar, extending its advance for three straight days, boosted by the rise in Malaysia's industrial production index (IPI) and upbeat forecasts for the Malaysian economy for the third quarter of the year, dealers said.
The local currency gained against the US dollar to 3.2600/2630 from 3.2785/2815 on Tuesday.
The ringgit strengthened against the Singapore dollar to 2.5710/5735 from 2.5807/5849 on Tuesday, and rose against the yen to 3.2506/2542 from 3.2742/2789 previously.
The ringgit was higher against the British pound at 5.1469/1529 from 5.1486/1546 previously, and rose against the euro to 4.3267/3313 from 4.3434/3480 on Tuesday.INTERBANK RATESKUALA LUMPUR:
Short-term interbank rates closed stable yesterday on Bank Negara Malaysia's intervention to absorb excess liquidity from the financial system through various instruments.
The liquidity surplus in the conventional system fell to RM17.14 billion from RM24.45 billion estimated in the morning and in the Islamic system, it declined to RM1.32 billion from RM2.45 billion estimated earlier.
The central bank called for three tenders - one money market tender with range maturity aution and two Al-Wadiah tenders.
It also issued a late conventional tender of RM17.4 billion for one day and a RM1.3 billion Al-Wadiah tender for one day.
The overnight rate stood at 2.92 per cent while the one-, two- and three-week rates stood at 2.97 per cent, 3.02 per cent and 3.04 per cent, respectively.KLIBORKUALA LUMPUR:
The three-month Kuala Lumpur Interbank Offered Rate (KLIBOR) futures contracts closed untraded yesterday.
September 2013, October 2013 and November 2013 remained pegged at 96.79, 96.76 and 96.76 respectively.
At the 11am fixing, the underlying three-month KLIBOR stood at 3.20 per cent. - Bernama