Ringgit firmer against the US dollar
KUALA LUMPUR: The ringgit closed higher against the US dollar yesterday to lead among emerging Asian currencies amid cautious sentiment of an eventual United States deal to raise the government's borrowing limit and avoid a potential default, dealers said.
At the close, ringgit was quoted at 3.1715/1745 against the greenback from Monday's 3.1790/1820.
It was mostly higher against other currencies, firming against the Singapore dollar to 2.5501/5535 from 2.5518/5544 on Monday and appreciating against the yen to 3.2231/ 2264 from 3.2333/2367 previously.
It declined against the British pound to 5.0826/0890 from 5.0753/0807 on Monday but rose against the euro to 4.2917/2961 from 4.3082/3129 previously.INTERBANK RATESKUALA LUMPUR:
Short-term interbank rates remained steadyat close yesterday on Bank Negara Malaysia's (BNM) continuous intervention to mop upexcess liquidity in the financial system.
The liquidity surplus in the conventional system fell to RM14.95 billionfrom the RM18.12 billion estimated in the morning, while in the Islamic system,it dipped to RM4.70 billion from RM6.24 billion.
BNM had earlier called for a range maturity auction tender, a repo tenderand three Al-Wadiah tenders. It also called for a RM15 billion conventional money market tender and aRM4.7 billion Al-Wadiah tender, both for one-day money.
The overnight rate stood at 2.92 per cent, while the one-week, two-week andthree-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 contracts closed untraded yesterday.
Spot month October 2013, November 2013 and December 2013 remained pegged at96.79 respectively while March 2014 stood at 96.77.
At the 11am fixing, the underlying three-month KLIBOR stood at 3.21 percent. - Bernama