Ringgit higher against US$ on Fed policy tightening pause


  • Forex
  • Monday, 7 Jan 2019

At 9.18 am (0118 gmt), the ringgit stood at 4.1200/1250 versus the US dollar from 4.1340/1370 at Friday's closing.

At 9.18 am (0118 gmt), the ringgit stood at 4.1200/1250 versus the US dollar from 4.1340/1370 at Friday's closing.

KUALA LUMPUR: The ringgit was higher against the US dollar early Monday as the greenback retreated on expectations that the Federal Reserve (Fed) would put policy tightening on pause in 2019.

At 9.18 am (0118 gmt), the ringgit stood at 4.1200/1250 versus the US dollar from 4.1340/1370 at Friday's closing.

A dealer said investors' interest shifted towards the ringgit following Fed chairman Jerome Powell's comments last Friday, that the central bank was not on a preset path of interest rate hikes, and would be sensitive to the downside risks priced in by markets.

Meanwhile, the ringgit traded higher against other major currencies, except the British pound, where it fell to 5.2468/2536 from 5.2378/2432 on Friday.

It rose against the Singapore dollar to 3.0310/0358 from 3.0357/0395, improved against the Japanese yen at 3.7969/8025 from 3.8260/8298 and gained against the euro to 4.6997/7070 from 4.7144/7199. - Bernama

Asian currencies rise, Indonesian rupiah leads

The following table shows rates for Asian currencies against the dollar at 0157 GMT (0957 Malaysian time) on Monday Jan 7.

    CURRENCIES VS U.S. DOLLAR
    
 Currency                     Latest bid  Previous day  Pct Move

 Japan yen                    108.330     108.52        +0.18
 Sing dlr                     1.357       1.3590        +0.15
 Taiwan dlr                   30.789      30.863        +0.24
 Korean won                   1117.000    1124.5        +0.67
 Baht                         31.920      32.06         +0.44
 Peso                         52.390      52.51         +0.36
 Rupiah                       14085.000   14265         +1.28
 Rupee                        69.720      69.72          0.00
 Ringgit                      4.108       4.134         +0.63
 Yuan                         6.846       6.8710        +0.36
                                                        
 Change so far in 2019

 Currency                     Latest bid  End 2018      Pct Move

 Japan yen                    108.330     109.56        +1.14
 Sing dlr                     1.357       1.3627        +0.42
 Taiwan dlr                   30.789      30.733        -0.18
 Korean won                   1117.000    1115.70       -0.12
 Baht                         31.920      32.55         +1.97
 Peso                         52.390      52.58         +0.36
 Rupiah                       14085.000   14375         +2.06
 Rupee                        69.720      69.77         +0.07
 Ringgit                      4.108       4.1300        +0.54
 Yuan                         6.846       6.8730        +0.39
 -Reuters

Forex , Markets , Corporate News