Malaysia: Ringgit remains lower ahead of BNM monetary policy meeting

• Sep 05, 2018

KUALA LUMPUR: The ringgit remained lower versus the US dollar early Wednesday on lack of demand for the local note, a dealer said.

At 9 am (0100 gmt), the ringgit traded at 4.1440/1470 versus the US dollar from Tuesday’s close of 4.1370/1420.

The greenback continued to rise with the US economy continuing to exhibit strength amid rising concerns about the stresses enveloping some emerging markets, he said.

On the local front, the ringgit was trading on a choppy mode as traders keenly awaited the outcome of Wednesday’s meeting of the Monetary Policy Committee (MPC), scheduled to be disclosed at 3pm. (0700 gmt)

 “We anticipate that the central bank will keep the benchmark interest rate unchanged,” he added.

The ringgit traded mostly lower against a basket of other currencies.

It fell versus the Singapore dollar to 3.0092/0140 from 3.0050/1100 Tuesday, slipped further against the euro to 4.8004/8055 from 4.7803/7877 and eased against the pound to 5.3267/3310 from 5.3016/3100.

However, the local note was slightly higher against the yen at 3.7119/7156 from 3.7136/7191. – Bernama

Philippine peso, Thai baht edge up

The following table shows rates for Asian currencies against the dollar as at 0146 GMT(0946 Malaysian time) on Wednesday Sept 5.

    CURRENCIES VS U.S. DOLLAR

 Change on the day at   0146 GMT 

 Currency                     Latest bid  Previous day  Pct Move

 Japan yen                    111.610     111.44        -0.15
 Sing dlr                     1.375       1.3759        +0.05
 Taiwan dlr                   30.755      30.766        +0.04
 Korean won                   1116.800    1114.9        -0.17
 Baht                         32.750      32.79         +0.12
 Peso                         53.510      53.61         +0.19
 Rupiah                       14925.000   14930         +0.03
 Rupee                        71.580      71.58          0.00
 Ringgit                      4.144       4.137         -0.17
 Yuan                         6.832       6.8450        +0.19
                                                        
 Change so far in 2018

 Currency                     Latest bid  End 2017      Pct Move

 Japan yen                    111.610     112.67        +0.95
 Sing dlr                     1.375       1.3373        -2.76
 Taiwan dlr                   30.755      29.848        -2.95
 Korean won                   1116.800    1070.50       -4.15
 Baht                         32.750      32.58         -0.52
 Peso                         53.510      49.93         -6.69
 Rupiah                       14925.000   13565         -9.11
 Rupee                        71.580      63.87         -10.77
 Ringgit                      4.144       4.0440        -2.41
 Yuan                         6.832       6.5069        -4.76
 – Reuters

Source: https://www.thestar.com.my/business/business-news/2018/09/05/ringgit-continues-lower-against-us$/#cV3EbfkdvcGWguZi.99