Ringgit higher on buying interest
KUALA LUMPUR: The ringgit closed higher against the US dollar yesterday on fresh buying interest after depreciating over the last four trading days, dealers said.
The local note was quoted at 3.2130/2160 to the US dollar from 3.2215/2245 on Wednesday. An analyst said lingering concerns over the US dollar also boosted most emerging currencies.
Meanwhile, the ringgit was higher against most major currencies. It improved against the Singapore dollar at 2.5605/5648 from 2.5657/5683 and was marginally better versus the yen at 3.2550/2597 from 3.2679/2726.
It depreciated against the British pound to 5.1565/1630 from 5.1515/1569 but strengthened against the euro to 4.3411/3458 from 4.3477/3521.INTERBANK RATESKUALA LUMPUR:
Short-term interbank rates are expected to remain stable yesterday as Bank Negara intervenes to absorb excess liquidity from the financial system through various instruments.
The central bank estimated today's liquidity at RM32.93 billion in the conventional system and RM6.11 billion in Islamic funds.
The bank will call a RM10 billion money market tender for one to 91 days and three repo tenders - RM250 million for 32-days, RM100 million for 91-days and RM300 million for 123-days.
It will also call for two Al-Wadiah tenders of RM1.3 billion for six-days and RM400 million for 28-days.
At 4pm, the bank will conduct a conventional overnight tender of up to RM222.3 billion and a RM4.8 billion Al-Wadiah overnight tender.KLIBORKUALA LUMPUR:
The three-month Kuala Lumpur Interbank Offered Rate (KLIBOR) futures contract ended untraded yesterday.
October 2013, November 2013 and December 2013 each remained pegged at 96.78.
At the 11 am fixing, the underlying three-month KLIBOR stood at 3.20 per cent. - Bernama