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Ringgit higher against US$ on expected positive CPI announcement


  • Forex
  • Friday, 14 Sep 2018

At 9 am (0100 gmt) Friday, the ringgit strengthened to 4.1380/1420 against the greenback from 4.1430/1460 at Thursday's closing.

At 9 am (0100 gmt) Friday, the ringgit strengthened to 4.1380/1420 against the greenback from 4.1430/1460 at Thursday's closing.

KUALA LUMPUR: The ringgit was higher against the US dollar early friday with investors looking forward to a positive August Consumer Price Index announcement.

At 9 am (0100 gmt), the ringgit strengthened to 4.1380/1420 against the greenback from 4.1430/1460 at Thursday's closing.

FXTM research analyst Lukman Otunuga said the CPI data for August is expected to jump 1.5 per cent, sparking investors' interest.

However, he said even though the ringgit could edge higher if inflation meets or exceeds expectations, it still remains sensitive to external factors

"If the improving risk sentiment boosts appetite for emerging market currencies and encourages investors to take profit from the US dollar, the ringgit could edge higher," he told Bernama.

Meanwhile, the ringgit traded mostly lower against other major currencies.

It depreciated slightly against the Singapore dollar to 3.0193/0229 from 3.0181/0216 on Thursday and inched up against the yen to 3.6923/6969 from 3.7170/7204.

It declined against the euro to 4.8373/8428 from 4.8129/8168 and was down against the British pound at 5.4262/4322 from 5.4066/4126. - Bernama

Korean won, Thai baht gain; China's yuan weakens

 

The following table shows rates for Asian currencies against the dollar at 0150 GMT (0950 Malaysian time) on Friday Sept 14.

CURRENCIES VS U.S. DOLLAR

 Currency                     Latest bid  Previous day  Pct Move

 Japan yen                    111.960     111.92        -0.04
 Sing dlr                     1.371       1.3700        -0.06
 Taiwan dlr                   30.790      30.805        +0.05
 Korean won                   1120.500    1122.4        +0.17
 Baht                         32.600      32.64         +0.12
 Peso                         54.030      54            -0.06
 Rupiah                       14835.000   14835         +0.00
 Rupee                        72.19       72.19         0.00
 Ringgit                      4.140       4.143         +0.07
 Yuan                         6.848       6.8363        -0.17
                                                        
 Change so far in 2018

 Currency                     Latest bid  End 2017      Pct Move

 Japan yen                    111.960     112.67        +0.63
 Sing dlr                     1.371       1.3373        -2.44
 Taiwan dlr                   30.790      29.848        -3.06
 Korean won                   1120.500    1070.50       -4.46
 Baht                         32.600      32.58         -0.06
 Peso                         54.030      49.977        -7.50
 Rupiah                       14835.000   13565         -8.56
 Rupee                        72.19       63.87         -11.52
 Ringgit                      4.140       4.0440        -2.32
 Yuan                         6.848       6.5069        -4.98
- Reuters 

 

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