Ringgit closes higher, tracking cash market’s bullish note

December 9, 2013 10:01 AM

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This photo taken 14 January, 2006 shows a money changer displaying a handful of RM100 bills at his office in downtown Kuala Lumpur. — AFP picKUALA LUMPUR, Dec 9 — The ringgit closed sharply higher against the US dollar today on higher buying interest following the bullish note of the cash market.

At 5pm, the ringgit was quoted at 3.2080/2110 against a US dollar from 3.2320/2350 on Friday.

The FTSE Bursa Malaysia KLCI (FBM KLCI) ended 14.92 points higher at a new high of 1,841.87 points, surpassing the previous all-time high of 1,826.95 points, registered on Friday.

A dealer said the strengthening of the local note was also in line with other emerging Asian currencies following the release of the solid China trade data.

“China’s surplus grew to US$33.8 billion (RM108.8 billion) in November from a year earlier, the highest since January 2009,” the dealer added.

The local unit rose against the yen to 3.1097/1141 from 3.1637/1678 last week and advanced against the Singapore dollar to 2.5650/5692 from 2.5767/5795 on Friday.

Source: themalaymailonline.com

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