Malaysian Ringgit Foreign Exchange

 

Malayisan ringgit foreign exchange rate falls against US dollar on import data

Published on April 11, 2012 by   ·   No Comments

The Malaysian ringgit’s foreign exchange rate fell from earlier gains against the US dollar to close lower yesterday in line with weaker Asian currencies, and on the weaker than expected China import data, dealers said.

The Malaysian ringgit dipped against the US dollar at 3.0745/0775 from 3.0700/0730 on Monday.

The ringgit was also easier against the Singapore dollar at 2.4378/4407 from 2.4334/4364, and lower against the yen at 3.7877/7933 from 3.7735/7781 previously.

The local currency was also lower against UK sterling at 4.8734/8794 from 4.8699/8750 and weaker against the euro at 4.0224/0269 from 4.0124/0173.

Malaysian Interbank Rates

Short term rates closed steady yesterday, with Bank Negara Malaysia intervening to absorb excess liquidity from the financial market, dealers said.

The overnight rate was fixed at 2.95 per cent while the one two and three week rates were at 2.99, 3.02 and 3.04 per cent, respectively.

The liquidity surplus in conventional operations was reduced to RM17.30 billion from RM25.95 billion estimated earlier. In the Islamic system, the surplus was reduced to RM5.01 billion from RM5.46 billion earlier estimate.

The central bank conducted nine tenders, four conventional, a repo and four Al-Wadiah. It also issued a late conventional tender for RM17.3 billion and a RM5 billion Al-Wadiah tender, both for two day money.

Latest Malaysian Ringgit Exchange Rates

Readers Comments (0)




*
Ringgit Money Transfers

Looking to transfer into or out of Malaysian Ringgit? Make sure you get the very best foreign exchange deal, beat bank exchange rates by several percentage points using Currency Solutions (enquire below):