Ringgit further strengthen against US$ at 3.167

Posted on August 17, 2010


Aug 17 :  The Ringgit opened higher against the green back as weak US economic fundamentals was threatening to dethrone the greenback as a safe haven currency.
At 9.14am, the Ringgit traded at 3.1670/1700 against the greenback compared with yesterday’s close of 3.1790/1830.

The Ringgit also gained following news that China might shift away from buying US government debt, said an investment bank dealer.
“The local currency was also boosted by strong buying activities of blue chip counters on the local bourse this morning,” he added.

The Ringgit eased against the Singapore dollar to 2.3311/3353 from 2.3300/3348 and against the Japanese yen to 3.7141/7193 from 3.7043/7094.
It weakened against the British pound to 4.9608/9674 from 4.9532/9604 but rose against the Euro to 4.0648/0703 from 4.0672/0736.