KUALA LUMPUR: The ringgit closed lower against the US dollar yesterday as investors remained on the sidelines ahead of the 2014 Budget announcement, dealers said.
The local currency was quoted at 3.1715/1735 against the greenback from Monday's 3.1680/1720.
Meanwhile, the ringgit was mixed against a basket of currencies.
It appreciated against the yen to 3.2234/2271 from 3.2290/2334 on Monday, but was lower against the Singapore dollar at 2.5554/5572 from 2.5515/5552 previously.
The local currency was higher against the British pound to 5.1144/1182 from Monday's 5.1217/1294 and fell against the euro to 4.3354/3388 from 4.3300/3364 previously.INTERBANK RATESKUALA 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 RM17.99 billion from RM23.92 billion estimated in the morning, while in the Islamic system, it declined to RM2.26 billion from RM5.16 billion.
BNM had earlier called for three conventional tenders, a repo tender and four Al-Wadiah tenders.
It also called for a RM18 billion conventional money market tender and a RM2.3 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, 3.02 per cent and 3.04 per cent, respectively.KLIBORKUALA LUMPUR:
The three-month Kuala Lumpur Interbank Offered Rate (KLIBOR) futures contract ended untraded yesterday.
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