Ringgit nears 6-week high
KUALA LUMPUR: The ringgit firmed against the US dollar closing at a near six-week high yesterday, leading gains among emerging Asian currencies ahead of the US Federal Reserve two-day meeting, dealers said.
The local note stood at at 3.2325/2355 versus the US dollar from 3.2485/2515 on Tuesday.
Meanwhile, the ringgit appreciated against other major currencies.
The ringgit was higher against the Singapore dollar at 2.5667/5701 from 2.5743/5769 on Tuesday and it went up against the yen at 3.2691/2735 from 3.2737/2774 previously.
The local note also advanced against the British pound to 5.1594/1652 from 5.1687/1748 previously and it even made gains against the euro to 4.3151/3197 from 4.3384/3434 on Tuesday.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 RM16.50 billion from RM24.36 billion estimated in the morning and dwindled to RM4.40 billion from RM4.95 billion estimated earlier in the Islamic system.
The central bank called for a RM16.5 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-, two- and three-week rates stood at 2.97 per cent, 3.01 per cent and 3.04 per cent, respectively.KLIBORKUALA LUMPUR:
The three-month Kuala Lumpur Interbank Offered Rate (KLIBOR) futures contract closed unchanged yesterday with one contract month traded.
September 2013 stood at 96.80 with a turnover of 65 lots while October 2013 and November 2013 remained pegged at 96.78, respectively.
At the 11 am fixing, the underlying three-month KLIBOR stood at 3.20 per cent. - Bernama