Ringgit rebounds against greenback

KUALA LUMPUR, Oct 16 — The ringgit rebounded to close higher against the US dollar today, prompted by the weakening greenback, dealers said.
At 6pm, the local unit stood at 4.2155/2185 against the US dollar from 4.2200/2240 last Friday.
The US dollar depreciated and narrowed to a seven-month low following the country’s trade deficit, spurring demand for emerging currencies, including the ringgit, a dealer said.
Meanwhile, the ringgit ended lower against other major currencies except for the euro where the local unit appreciated to 4.9692/9745 from last Friday’s 4.9918/9970.
The ringgit fell against the Singapore dollar to 3.1171/1197 from 3.1146/1187, declined versus the yen to 3.7699/7729 from 3.7638/7677 and weakened against the British pound to 5.6054/6098 from 5.5995/5065 previously.&\
*Taken from Malay Mail Online

wan hafiz

Proud Malaysian and ex-MMU student. An avid reader and a Manchester United fan. Had practical training and worked with Maxis as an Engineer. Currently pursuing engineering career.

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