At 9 am, the local note fell to 4.1870/1910 from 4.1835/1850 at Tuesday’s close.
Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid said the heightened uncertainties have led to a sudden surge in interest in safe-haven currencies.
"However, vaccination rates are rapidly increasing and the reopening of the economy is occurring globally.
"This necessitates the US Fed to withdraw some -- if not all -- of the monetary stimulus to reflect the current state of the economy,”Read More »
At 9 am, the local note climbed to 4.1885/1925 from 4.1905/1950 at Monday’s close.
Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid said the possibility of the tapering of asset purchases by the US Fed this week may also raise the appeal of the greenback and hence was likely to weaken the ringgit.
"At the same time, news on the potential defaults in one of the main property players in China has stoked concern over the financial stability in the second largest global economic powerhouse,” he told Bernama.
As such, he said the nRead More »
At 9 am, the local note slipped by 135 basis points (bps) to 4.1835/1885 from 4.1700/1730 at last Friday’s close.
Furthermore, Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid said the focus would be on the US Fed’s asset purchases programme to see whether the US Fed would announce plans to reduce the size of its monthly purchases which currently stands at US$120 billion.
"On top of that, the market would be watching the latest economic projection by the US Fed to see whether there are any upgrades in its assessmRead More »
At 9.02 am, the ringgit declined 160 basis points (bps) to 4.1730/1780 from 4.1570/1590 at Wednesday’s close.
The local market was closed yesterday for the Malaysia Day celebration.
ActivTrades trader Dyogenes Rodrigues Diniz said both the United States (US) core retail sales and jobless claims data for August 2021 had surprised the market and hence continued to lift the greenback’s performance.
"This has great potential to cause the US dollar to appreciate over the next few days, as high consumer spending coulRead More »
Thursday, 8 December 2016 KUALA LUMPUR: The ringgit opened higher against the US dollar on Thursday on better buying support and following Bank Negara Malaysia’s (BNM) measures to enhance the liquidity of the foreign exchange market. At 9.16 am, the ringgit was higher at 4.4270/4310 from 4.4300/4340 at the close …Read More »
Monday, 5 December 2016 KUALA LUMPUR: The ringgit opened higher against the US dollar Monday on better demand following Bank Negara Malaysia’s (BNM) new measures, effective Monday, to encourage more domestic trade of the ringgit. At 9.05 am(0105 gmt), the local unit strengthened to 4.4470/4500 against the greenback from the …Read More »
Tuesday, 29 November 2016 PUTRAJAYA: The performance of the ringgit, which is said to have dropped slightly of late compared to the United States dollar, is not as bad as claimed by certain quarters. Najib, who is also Finance Minister, said he had talked to Bank Negara Malaysia Governor Datuk …Read More »
Monday, 28 November 2016 BENGALURU: Gold rose over 1% on Monday, recovering from 9-1/2 month lows, as the US dollar extended losses after touching a near 14-year high last week. Spot gold had gained 0.92% to US$1,193.80 an ounce by 0532 GMT after climbing as high as US$1,197.54 earlier in …Read More »
Monday, 28 November 2016 KUALA LUMPUR: The ringgit traded slightly higher against the US dollar early Monday on improved buying interest and despite a decline in global crude oil prices. At 9am, the local unit improved against the greenback at 4.4550/4600 from 4.4580/4700 on last Friday. Global crude oil prices …Read More »
Thursday, 10 November 2016 NEW YORK: The dollar rose across the board and hit its highest in nearly four months against the Japanese yen on Wednesday, as U.S. Treasury debt yields touched multimonth highs following Republican candidate Donald Trump’s victory in the presidential election. Prices fell on benchmark 10-year Treasury …Read More »