KUALA LUMPUR: The ringgit closed higher against the US dollar yesterday on strong buying interest in the local unit, dealers said.
The ringgit was quoted at 3.1900/1930 against the greenback from 3.1980/1020 on Wednesday.
A dealer said investors' confidence in the ringgit was growing on expectations it would strengthen by five per cent by year-end.
Against other currencies, the local unit was also traded higher.
The ringgit rose against the Singapore dollar to end at 2.5485/5515 from 2.5545/5581 and soared against the yen at 3.2601/2648 from 3.2830/2881.
It appreciated against the pound at 5.0839/0900 from 5.1078/1149 and was higher against the euro at 4.3175/3229 from 4.3250/3313 previously.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 RM18.09 billion from RM25.19 billion estimated in the morning while in the Islamic system, it dwindled to RM2.61 billion from RM5.31 billion.
The bank had earlier called for three conventional money market tenders, a repo tender, two Al-Wadiah tenders and a Commodity Murabahah Programme.
It also called for a RM18 billion conventional money market tender and a RM2.6 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 contracts closed untraded yesterday.
Spot month October 2013, November 2013 and December 2013 remained pegged at 96.79, respectively, while March 2014 stood at 96.77.
At the 11am fixing, the underlying three-month KLIBOR stood at 3.21 per cent. - Bernama