Ringgit eases on mild profit-taking
KUALA LUMPUR: The ringgit closed easier against the US dollar yesterday on mild profit taking, dealers said.
The ringgit stood at 3.2270/2300 to the US dollar from 3.2130/2160 on Thursday.
An analyst said investors were concerned over the US budget and a lack of clarity over when the US Fedwould begin scaling back its stimulus programme.
Meanwhile, the ringgit was mostly down against other major currencies.
The ringgit declined against the Singapore dollar to 2.5691/5725 from 2.5605/5648 previously and was weaker versus the yen at 3.2705/2752 from 3.2550/2597 on Thursday.
It fell versus the British pound to 5.1832/1893 from 5.1565/1630 and lost against the euro to 4.3577/3624 from 4.3411/3458 on Thursday.INTERBANK RATESKUALA LUMPUR:,/b> 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 RM33.43 billion in the conventional system and RM6.12 billion in Islamic funds.
The bank will call for a RM12 billion money market tender for three to 91-days and a RM150 repo tender for 91-days.
It will also call for a RM3.4 billion Al-Wadiah tender for four to 91-days.
At 4pm, the bank will conduct a conventional overnight tender of up to RM21.3 billion and a RM3 billion Al-Wadiah overnight tender.
KUALA LUMPUR:,/b> The three-month Kuala Lumpur Interbank Offered Rate (KLIBOR) futures contract was 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