Ringgit rebounds against US dollar

RINGGIT

KUALA LUMPUR: The ringgit rebounded yesterday in line with regional currencies as improving global risk appetite intensified short-covering, dealers said.

At close, the ringgit was quoted at 3.1075/1105 from Monday's close of 3.1090/1120.

The ringgit was also higher against other major currencies.

The ringgit rose against the Singapore dollar to 2.4892/4918 from Monday's 2.4894/4920, and against the yen to 3.2296/2344 from 3.2352/2386 previously.

The ringgit also traded higher against the British pound at 4.6299/6356 from 4.6402/6459 and rose against the euro to 4.0394/0440 from 4.0408/0450.

INTERBANK RATES

KUALA LUMPUR: Short-term rates closed steady yesterday on Bank Negara Malaysia's continuous intervention to mop up surplus liquidity in the financial system.

The liquidity surplus in the conventional operations was trimmed to RM13.83 billion from the RM20.08 billion estimated in the morning, while the excess in the Islamic system eased to RM799.3 million from RM2.68 billion.

The central bank conducted six tenders, four conventional, an Al-Wadiah and a repo.

Bank Negara also issued a late tender for RM14 billion in the conventional operations and a RM800 million Al-Wadiah tender, both for one-day money.

The overnight rate stood at 2.90 per cent, while the one-week, two-week and three-week rates were pegged at 2.98 per cent, 3.01 per cent 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 all remain pegged at 96.79, while June 2013 stayed at 96.78. At the 11am fixing, the underlying three-month KLIBOR stood at 3.21 per cent. - Bernama