Ringgit higher against US dollar
KUALA LUMPUR: The ringgit closed slightly higher against the US dollar on continued buying interest, dealer said.
At 5pm, the local currency was quoted at 3.1550/1585 against the US dollar from Thursday's 3.1585/1625.
Trading remained thin as investors focused their attention on proposals announced in the 2014 Budget, tabled by Prime Minister Datuk Seri Najib Razak in Parliament yesterday.
Meanwhile, the ringgit was traded lower against a basket of currencies.
It fell versus the Singapore dollar to 2.5516/5546 from 2.5509/5535 on Thursday and declined against the British pound to 5.1152/1212 from 5.1117/1175.
It also dropped against the yen to 3.2492/2532 from 3.2438/2485 previously and slumped against the euro to 4.3602/3654 from 4.3536/3580 on Thursday.
KUALA LUMPUR: Short-term interbank rates closed steady yesterday on Bank Negara Malaysia's (BNM) intervention to reduce excess liquidity in the financial system.
The liquidity surplus in the conventional system fell to RM17.47 billion from RM22.92 billion estimated in the morning, while in the Islamic system, it declined to RM1.23 billion from RM2.41 billion previously.
BNM had earlier called for three conventional money market tenders, two Al-Wadiah tenders and a repo tender.
It also called for a RM17.5 billion conventional money market tender and a RM1.2 billion Al-Wadiah tender, both for three-day money.
The overnight rate stood at 2.93 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.
KUALA LUMPUR: The three-month Kuala Lumpur Interbank Offered Rate (KLIBOR) futures contract ended untraded yesterday for the fifth consecutive day.
Spot month November 2013, December 2013 and January 2014 all remained pegged at 96.79 while March 2014 stood at 96.78.
At the 11 am fixing, the underlying three-month KLIBOR stood at 3.21 per cent. - Bernama