Ringgit slips against the greenback
KUALA LUMPUR: The ringgit closed lower against the US dollar despite the government's announcement on tackling the fiscal deficit to help boost the local currency, dealers said.
The local note declined against the greenback to 3.1440/1430 from 3.1335/1365 on Monday.
It closed lower versus the Singapore dollar at 2.5357/5389 from Monday's close of 2.5342/5370 and depreciated against the yen to 3.2191/2228 from 3.2092/2133 previously.
However, the local note appreciated against the British pound to 5.0519/0580 from 5.0772/0836 on Monday.
It also strengthened against the euro to 4.3241/3285 from 4.3271/3315 previously. INTERBANK RATESKUALA LUMPUR:
Short-term interbank rates closed stable yeterday as Bank Negara Malaysia intervened to reduce excess liquidity from the financial system.
The liquidity surplus in the conventional system fell to RM17.1 billion from RM20.86 billion estimated in the morning, while in the Islamic system, it declined to RM1.52 billion from RM8.07 billion.
The bank had earlier called for three conventional tenders, two Al-Wadiah tenders and two Commodity Murabahah Programme tenders.
It also called for a RM17.1 billion conventional money market tender and a RM1.6 billion Al-Wadiah tender, both for one-day money.
The overnight rate stood at 2.93 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.KLIBORKUALA LUMPUR:,/b> The three-month Kuala Lumpur Interbank Offered Rate (KLIBOR) futures contract ended flat yesterday, with only one contract month traded, a dealer said.
At close, the December 2013 contract, which saw an outright transaction, stood at 96.79, with 10 lots traded.
Spot month November 2013 and January 2013 both remained pegged at 96.79, respectively.
Open interest stood at 5,755 contracts. On the cash market, the underlying three-month KLIBOR was unchanged at 3.21 per cent. - Bernama