KUALA LUMPUR: The ringgit closed sharply higher against the US dollar yesterday in line with Asian currencies as the greenback weakened following the partial United States government shutdown, a dealer said.
The local note was quoted at 3.2330/2360 to the US dollar from 3.2580/2610 on Monday's close.
The dealer said there were mixed views on the outlook for emerging Asian currencies. The local note strengthened against the Singapore dollar to 2.5804/5847 from 2.5942/5970 and appreciated versus the yen to 3.2976/3014 from 3.3282/3316 previously.
It was higher against the British pound at 5.2462/2524 from 5.2640/2701 on Monday and rose against the euro to 4.3801/3851 from 4.3980/4030.INTERBANK RATESKUALA LUMPUR:
Short-term interbank rates closed stable yesterday on Bank Negara's intervention to absorb excess liquidity from the financial system through various instruments.
The liquidity surplus in the conventional system fell to RM21.91 billion from the RM33.90 billion estimated in the morning, while in the Islamic system, it declined to RM2.72 billion from RM11.87 billion.
The central bank called for a range maturity auction programme, an Al-Wadiah tender and two repo tenders.
The central bank also called for a RM21.6 billion conventional money market tender and a RM2.7 billion Al-Wadiah tender, both for one-day money.
The overnight rate stood at 2.92 per cent while the one-week, two-week 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 higher yesterday, with three contract months traded.
June 2014 added seven points to 96.69, September 2014 rose 10 points to 96.64 and December 2014 gained 10 points to 96.59.
Turnover, however, was lower at 140 from 150 lots traded yesterday. At the 11 am fixing, the underlying three-month KLIBOR stood at 3.21 per cent. - Bernama