Ringgit rises sharply against US dollar
KUALA LUMPUR: The ringgit ended sharply higher against the US dollar on increased buying interest from investors following the better-than-expected August trade surplus, a dealer said.
The local note was quoted at 3.1810/1840 against the greenback from 3.1940/1970 on Thursday.
The ringgit was traded mostly higher against most major currencies. It strengthened against the Singapore dollar to 2.5509/5535 from Thursday's 2.5552/5594 but fell against the yen to 3.2720/2761 from 3.2658/2696.
The currency traded sharply higher against the British pound at 5.1233/1294 from 5.1823/1884 and appreciated against the euro to 4.3300/3344 from 4.3451/3498 on Thursday.INTERBANK RATESKUALA LUMPUR:
Short-term interbank rates closed stable yesterday on Bank Negara Malaysia's (BNM) intervention to absorb excess liquidity from the financial system through various instruments.
The liquidity surplus in the conventional system fell to RM16.09 billion from the RM25.41 billion estimated in the morning, while in the Islamic system, it declined to RM3.81 billion from RM12.00 billion.
BNM called for a range maturity auction programme, a repo tender, an Al-Wadiah tender and two Commodity Murabahah Programmes.
The central bank also called for a RM16 billion conventional money-market tender and a RM3.8 billion Al-Wadiah tender, both for three-day money.
The overnight rate stood at 2.92 per cent, while the one-week, two-week and three-week rates stood at 2.97 per cent, 3.02 per cent and 3.04 per cent, respectively. - Bernama