Thursday, December 8, 2016

Ringgit firmer against US dollar on Thursday

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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 yesterday.

A dealer said BNM's new measures, effective on Monday, were introduced to support the ringgit and improve demand for the local currency.

However, the local note traded lower against other major currencies.

It depreciated against the Singapore dollar to 3.1246/1279 from 3.1210/1250 yesterday and fell against the yen to 3.8929/8974 from 3.8866/8929.

Against the euro, it was lower at 4.7612/7682 from 4.7485/7537 and weakened against the British pound at 5.5979/6057 from 5.5778/5833.

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