Ringgit ends firmer against basket of major currencies

March 13, 2018 | By | Reply More

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KUALA LUMPUR: The ringgit finished firmer against a basket of major currencies today, boosted by a strong demand for it following the upbeat economic data and amid weaker US dollar, a dealer said.

At 6pm, the local note was quoted at 3.8950/9010 against the greenback compared with yesterday’s 3.9030.9060.

A dealer said sentiment in the market remained favourable with investors positively reacted to the strong Industrial Production Index (IPI) data released earlier.

“The upbeat data (IPI), despite the slight decline in oil prices, helped spark some positive buying for ringgit and the weaker greenback also partly contributed,” he told Bernama.

Malaysia’s IPI rose three per cent in January 2018 from the same month of 2017, supported by positive growth in all indices, manufacturing (4.8%), mining (1.5%) and electricity (4.3%).

Meanwhile, the ringgit performed better against the Singapore dollar to 2.9645/9692 from 2.9678/9712 on Monday and strengthened versus the yen to 3.6348/6410 from 3.6627/6666 yesterday.

The local note also appreciated against the euro to 4.8021/8099 from yesterday’s 4.8054/8095 and rose vis-a-vis the British pound to 5.4063/4161 from 5.4076/4122 on Monday. — Bernama

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