RINGGIT CLOSES HIGHER AGAINST US DOLLAR

12 Jul 2013 11:19

KUALA LUMPUR, July 10 (Bernama) -- The ringgit closed higher against the US dollar today as traders were positive ahead of Bank Negara Malaysia Monetary Policy Committee's meeting tomorrow, a dealer said.

At 5.00 pm, the ringgit rose to 3.1790/1820 per US dollar against yesterday's close of 3.1865/1895.

"Trader are keeping a positive mind ahead of the meeting where the committee is expected to maintain the Overnight Policy Rate," he said.

Meanwhile, the ringgit's uptrend was in line with most emerging Asean currencies which extended their gains as investors kept covering short positions.

The ringgit rose against the Singapore dollar to 2.4931/4957 from 2.4935/4969 on Tuesday. It declined against the yen to 3.1784/1820 from 3.1487/1520 yesterday.

The local unit rose against the British pound to 4.7329/7383 from 4.7457/7511 previously and improved against the euro to 4.0761/0806 from 4.1013/1058 on Tuesday. -- BERNAMA

NHIZ MKI