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Ringgit higher against US$ early Friday, 24 March 2017

Friday, 24 March 2017

KUALA LUMPUR: The ringgit rebounded to open higher against the US dollar Friday as Bank Negara’s projection of a 4.3% – 4.8% growth for the Malaysian economy, this year, was viewed positively by market players.

At 9 am (0100gmt) the local note was traded at 4.4250/4330 against the greenback from Thursday’s close of 4.4270/4310. However, economic uncertainties such as ongoing concerns over higher US interest rates and prolonged depression in oil prices were still dampening the market.

The ringgit, meanwhile, was traded higher against major currencies. It rose against the Singapore dollar to 3.1589/1669 from 3.1601/1636 on Thursday and increased against the British pound to 5.5268/5373 from 5.5289/5352 Thursday.

It went up against the euro to 4.7635/7739 from Thursday’s close of 4.7679/7731 and edged up against the yen to 3.9747/9836 from 3.9876/9923 on Thursday.

Source by: Internet

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