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Ringgit strengthens against US Dollar at close

Posted on 27 September 2012 - 06:12pm
Last updated on 2 October 2012 - 06:56pm

KUALA LUMPUR (Oct 2, 2012): The ringgit strengthened against the US dollar at close today on increased risk appetite and interest in Asian currencies, dealers said.

They said active manufacturing activities in the United States had spurred interest among global investors to invest in riskier assets.

At close today, the ringgit was quoted at 3.0485/0515, versus yesterday's close of 3.0590/0620.

Meanwhile, the ringgit also appreciated against other major currencies. The local note rose against the Singapore dollar to 2.4809/4843 compared to Monday's close of 2.4902/4933 and gained against the Japanese yen to 3.9018/9072 from 3.9203/9251 previously.

The ringgit also improved against the British pound to 4.9245/9303 versus 4.9409/9467 yesterday and was up against the Euro at 3.9368/9410 compared to 3.9449/9491 previously. -–Bernama

Element: Promixity

Leads:

who - dealers

what  - the ringgit strengthened  against the US dollar

when - today

where- in Asian currencies

why - increased risk appetite and interest in Asian currencies

how - ringgit strengthened to be closed to US dollar