FX Ringgit : Week ending Friday, 11 June 2010

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hi,

Just like last week, I don't have a copy of The Star as I'm still in Singapore, and Starbizweek FX reports aren't online. So it's just the Bernama report for the Week ending Friday, 11th June 2010 :


11 June, 2010 17:53 PM : FOREX: Ringgit Ends Higher At 3.28 Per Dollar
KUALA LUMPUR, June 11 (Bernama) -- The ringgit ended higher at 3.2820/2870 against the US dollar Friday from Thursday's 3.3000/3050 close, supported by regional and local equities markets, dealers said.

They said gains in Asian currencies further boosted the ringgit. Most regional currencies, including the local unit, were riding on the US dollar's weakness.

"The US dollar slipped as investors moved from the safety of the greenback into higher yielding currencies, following upbeat prospects for global economic recovery," a dealer said.

The dealer also said a bullish trend in the global stock market and strong Chinese exports, encouraged investors to take position in the risky assets, thus diminishing the US dollar's safe have appeal.

Against other major currencies, the ringgit was traded higher at close.

It rose against the Singapore dollar to 2.3343/3403 from 2.3363/3420 Thursday and also against the Japanese yen to 3.5830/5900 from 3.6152/6227 on Thursday.

The ringgit also strengthened against the euro to 3.9742/9812 from 3.9772/9838 yesterday as well as against the British pound at 4.8114/8204 from 4.8203/8296 previously.
End of Article
BERNAMA