News & Articles Ringgit remains higher against US dollar in early trade
Ringgit remains higher against US dollar in early trade
23 May 2016
KUALA LUMPUR: The ringgit continued last week’s uptrend to open higher against the US dollar in early trade Monday, supported by demand for the local unit and an improved Consumer Price Index (CPI) for April, dealers said.
At 9.03am, the local unit was quoted at 4.0670/0720 against the greenback from 4.0780/0850 at 5pm on Friday.
The CPI, which is used to gauge inflation, improved from 2.6 per cent year-on-year in March to 2.1 per cent in April, the slowest yearly increase since May last year.
The local note was also traded mostly higher against other major currencies.
It rose against the Singapore dollar to 2.9497/9559 from Friday’s close of 2.9534/9589, strengthening against the British pound to 5.8992/9081 from 5.9421/9543, while advancing against the euro to 4.5664/5737 from 4.5751/5846.
However, the ringgit depreciated vis-a-vis the yen to 3.7050/7113 from 3.6952/6032.
At 9.03am, the local unit was quoted at 4.0670/0720 against the greenback from 4.0780/0850 at 5pm on Friday.
The CPI, which is used to gauge inflation, improved from 2.6 per cent year-on-year in March to 2.1 per cent in April, the slowest yearly increase since May last year.
The local note was also traded mostly higher against other major currencies.
It rose against the Singapore dollar to 2.9497/9559 from Friday’s close of 2.9534/9589, strengthening against the British pound to 5.8992/9081 from 5.9421/9543, while advancing against the euro to 4.5664/5737 from 4.5751/5846.
However, the ringgit depreciated vis-a-vis the yen to 3.7050/7113 from 3.6952/6032.
Source: Nst.com.my