Ringgit edges up against US dollar, weakens against ASEAN currencies
The currency closed at 4.0820/4.0870 against the greenback, while its performance against major currencies was mixed.
The ringgit finished trading on Oct 2 with a small gain against the US dollar, reaching 4.0820/4.0870 at 6 pm compared with the previous closing rate of 4.0830/4.0875. Trading remained within a narrow range amid cautious sentiment.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid linked market sentiment to rising global bond yields. He told Bernama that stronger US economic data and higher crude oil prices had increased demand for the dollar, although the ringgit had remained relatively resilient amid uncertainty.
Against other major currencies, the ringgit strengthened to 4.5927/5983 per euro from 4.6015/6066. It lost ground against the British pound, moving to 5.3927/3993 from 5.3896/3955, and against the Japanese yen, reaching 2.5906/5941 compared with 2.5781/5811.
The ringgit weakened against the ASEAN currencies quoted. Its rate against the Singapore dollar moved to 3.1908/1952 from 3.1856/1894, while the Thai baht rate stood at 12.1579/1778 compared with 12.1111/1294.
It also declined against the Philippine peso, ending at 6.52/6.54 from 6.50/6.51. Against the Indonesian rupiah, the ringgit slipped to 228.2/228.6 from 227.2/227.6.
