KUALA LUMPUR: The ringgit closed sharply higher against the US dollar yesterday following the weakening US currency, a dealer said.
The local note was quoted at 3.2255/2285 to the US dollar from 3.2330/2360 on Tuesday's close.
The local note was also higher against most major currencies. It strengthened against the Singapore dollar to 2.5755/5787 from Tuesday's 2.5804/5847.
The local currency, however, fell against the yen to 3.3123/3160 from 3.2976/3014 previously.
The ringgit was also sharply higher against the British pound at 5.2282/2344 from 5.2462/2524 on Tuesday and appreciated against the euro to end the day's trading at 4.3644/3691 from 4.3801/3851 recorded previously.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 RM19.22 billion from the RM32.61 billion estimated in the morning, while in the Islamic system, it declined to RM4.43 billion from RM8.21 billion previously.
The central bank called for two repo tenders, a range maturity auction programme and an Al-Wadiah tender.
The central bank also called for a RM19.2 billion conventional money-market tender and a RM3.8 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 untraded yesterday.
Spot month October 2013, November 2013 and December 2013 remained pegged at 96.80, respectively, while March 2014 was unchanged at 96.78.
At the 11 am fixing, the underlying three-month KLIBOR stood at 3.21 per cent. - Bernama