Ringgit slightly higher against US dollar

RINGGIT

KUALA LUMPUR: The ringgit closed slightly higher against the US dollar yesterday on mild buying interest in the local currency, dealers said.

At 5pm the ringgit was quoted at 3.0965/0995 to the US dollar compared with 3.1005/1025 last Friday.

A dealer said the ringgit was also firmer in thin trading yesterday, supported by the positive sentiment on the local bourse.

The ringgit traded higher against a basket of major currencies at close.

The local unit was marginally higher against the Singapore dollar at 2.5006/5046 from 2.5040/5065 last Friday, and firmed up against the Japanese yen to 3.2973/3009 from 3.3192/3228.

It appreciated against the euro at 4.0967/1009 from 4.0982/0012 and climbed versus the British pound to 4.6896/6951 from 4.7338/7381 recorded on Friday.

INTERBANK RATES

KUALA LUMPUR: Short-term rates closed stable yesterday as Bank Negara Malaysia (BNM) intervened to absorb excess liquidity from the financial system.

Liquidity surplus in conventional operations was trimmed to RM25.19 billion from RM30.26 billion estimated in the morning while the excess in the Islamic system eased to RM66 million from RM3.31 billion.

The central bank conducted five tenders comprising three conventional, one repo and one Al-Wadiah.

BNM also issued a late tender for RM25.1 billion in conventional operations and a RM600 million Al-Wadiah tender, both for one-day money.

The overnight rate stood at 2.91 per cent while the one-, two- and three-week rates were pegged at 2.97, 3.01 and 3.04 per cent, respectively.

KLIBOR

KUALA LUMPUR: The three-month Kuala Lumpur Interbank Offered Rate (KLIBOR) futures contracts on Bursa Malaysia Derivatives closed untraded yesterday.

Spot month March 2013, April 2013 and May 2013 were unchanged at 96.79 each while June 2013 remained pegged at 96.78.

Open interest stood at 11,215 contracts. At the 11am fixing, the underlying three-month KLIBOR stood at 3.21 per cent. - Bernama