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Monday, August 4, 2008

Forex Ringgit Closes In Against Against US Dollar

The ringgit closed lower against the US dollar Monday on selling pressure as traders took the cue from the weak performance by regional currencies, dealers said.
At 5pm, the local currency declined to 3.2665/2695 from Friday's closing of 3.2620/2650.
The dealers said that traders were reluctant to take heavy positions due to lack of fresh leads.
In late trade, the ringgit traded mostly higher against other major currencies.
The local unit was marginally higher against the Singapore dollar at 2.3801/3841 compared with 2.3802/3853 last Friday and it was also firmer against the Japanese yen at 3.0231/0270 from 3.0322/0355 previously.
Against the British pound, the ringgit strengthened to 6.4311/4383 from 6.4519/4591 last Friday but it was easier against the euro at 5.0899/0958 from 5.0767/0820 previously

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