Higher oil prices lifts market sentiment for ringgit


  • Forex
  • Tuesday, 8 Jan 2019

At 9.20 am (0120 gmt), the ringgit stood at 4.1100/1150 versus the US dollar from 4.1120/1160 Monday.

At 9.20 am (0120 gmt), the ringgit stood at 4.1100/1150 versus the US dollar from 4.1120/1160 Monday.

KUALA LUMPUR: The ringgit was higher against the US dollar in the early trade Tuesday as higher global oil prices lifted market sentiment for the local note.

At 9.20 am (0120 gmt), the ringgit stood at 4.1100/1150 versus the US dollar from 4.1120/1160 Monday.

A dealer said global oil prices rose as Organisation of the Petroleum Exporting Countries-led supply cuts helped to tighten markets.

“Higher oil prices are viewed as positive for Malaysia's oil and gas revenue,” he added.

International Brent crude futures rose 44 cents to US$57.77 per barrel while US West Texas Intermediate (WTI) crude oil futures increased 33 cents to US$48.85 per barrel.

Meanwhile, the ringgit traded lower against other major currencies except for the yen, against which it rose to 3.7849/7905 from 3.8004/8044 at the close Monday.

The local unit declined against the Singapore dollar to 3.0296/0335 from 3.0284/0334, fell against the British pound to 5.2518/2602 from 5.2424/2491 and weakened against the euro to 4.7113/7187 from 4.7037/7099. - Bernama

Asian currencies edge up; Indonesian rupiah leads gains

The following table shows rates for Asian currencies against the dollar at 0146 GMT (9.46 am Malaysian time) on Tuesday Jan 8..

    CURRENCIES VS U.S. DOLLAR

 Currency                     Latest bid  Previous day  Pct Move

 Japan yen                    108.530     108.7         +0.16
 Sing dlr                     1.356       1.3560        +0.01
 Taiwan dlr                   30.808      30.812        +0.01
 Korean won                   1118.600    1118.6        +0.00
 Baht                         31.970      32            +0.09
 Peso                         52.380      52.38         +0.00
 Rupiah                       14000.000   14085         +0.61
 Rupee                        69.680      69.68          0.00
 Ringgit                      4.110       4.113         +0.07
 Yuan                         6.850       6.8505        +0.00
                                                        
 Change so far in 2019

 Currency                     Latest bid  End 2018      Pct Move

 Japan yen                    108.530     109.56        +0.95
 Sing dlr                     1.356       1.3627        +0.51
 Taiwan dlr                   30.808      30.733        -0.24
 Korean won                   1118.600    1115.70       -0.26
 Baht                         31.970      32.55         +1.81
 Peso                         52.380      52.58         +0.38
 Rupiah                       14000.000   14375         +2.68
 Rupee                        69.680      69.77         +0.13
 Ringgit                      4.110       4.1300        +0.49
 Yuan                         6.850       6.8730        +0.33
 - Reuters

Forex , Markets , Corporate News