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Ringgit firmer against US$

KUALA LUMPUR: The ringgit was firmer against the US dollar early Thursday on better-than-expected export data despite escalating geopolitical tension on the Korean Peninsular.

At 9 am(0100gmt), the local unit was quoted at 4.2200/2230 versus the greenback from Wednesday’s 4.2370/2400.

A dealer said Malaysia’s export grew 30.9 per cent in July from a year earlier on higher shipments of manufactured products and mining goods.

This caught market players by surprise as investors expected growth to be around 20 per cent.

Meanwhile, he said escalating tension on the Korean peninsula prompted investors to shun riskier assets.

“Many investors responded by shifting some of their portfolios into assets which are believed to be safer,” he said.

On the local front, Malaysia’s international reserves climbed to US$100.5 billion (RM431.7 billion) as at Aug 30, 2017, compared with US$100.4 billion (RM431.0 billion) registered as at Aug 15, 2017.

“The reserves position is sufficient to finance 7.8 months of retained imports and is 1.1 times the short-term external debt,” the central bank said in a statement Wednesday.

Bank Negara Malaysia is also expected to announce a decision on the overnight policy rate Thursday.

The local note was traded higher against a basket of other major currencies.

It advanced against the Singapore dollar to 3.1271/1300 from Wednesday’s close of 3.1336/1368 and appreciated against the yen to 3.8648/8679 from 3.8950/8989 Wednesday.

The local unit firmed against the British pound to 5.5050/5093 from yesterday’s 5.5204/5247 and strengthened against the euro to 5.0298/0351 from 5.0560/0613 on Wednesday. – Bernama

 

EXCHANGE RATES ISSUED BY MALAYAN BANKING BHD: SEPT 07

  SELLING TT/OD BUYING TT BUYING OD

1 US Dollar 4.2840 4.1590 4.1490
1 Australian Dollar 3.4300 3.3390 3.3230
1 Brunei Dollar 3.1710 3.0860 3.0780
1 Canadian Dollar 3.4940 3.4070 3.3950
1 Euro 5.0990 4.9730 4.9530
1 New Zealand Dollar 3.0980 2.9900 2.9740
1 Papua N Guinea Kina 1.4390 1.2100 1.1940
1 Singapore Dollar 3.1705 3.0860 3.0780
1 Sterling Pound 5.5650 5.4550 5.4350
1 Swiss Franc 4.4650 4.3710 4.3560
100 UAE Dirham 117.8500 112.0200 111.8200
100 Bangladesh Taka 5.3310 5.0520 4.8520
100 Chinese Renminbi 65.6000 63.1000 0.0000
100 Danish Krone 70.4300 64.9600 64.7600
100 Hongkong Dollar 55.3200 52.5800 52.3800
100 Indian Rupee 6.7910 6.3900 6.1900
100 Indonesian Rupiah 0.0332 0.0301 0.0251
100 Japanese Yen 3.9260 3.8140 3.8040
100 New Taiwan Dollar NA NA 0.0000
100 Norwegian Krone 56.3600 51.9500 51.7500
100 Pakistan Rupee 4.1300 3.8800 3.6800
100 Philippine Peso 8.5100 8.0400 7.8400
100 Qatar Riyal 117.3200 111.6000 111.4000
100 Saudi Riyal 115.4900 109.6400 109.4400
100 South Africa Rand 34.3200 31.6600 31.4600
100 Sri Lanka Rupee 2.8800 2.6500 2.4500
100 Swedish Krona 55.4200 50.5800 50.3800
100 Thai Baht 13.7600 11.7100 11.3100  — Bernama/thestar.com.my

 

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