Malaysia: Ringgit snaps 3-day losing streak to go higher against US$ on rising oil price

• Sep 27, 2018

KUALA LUMPUR: The ringgit snapped its three-day losing streak to open higher against the US dollar early Thursday amid rising oil prices, a dealer said.

At 9 am (0100 gmt), the local currency stood at 4.1380/1420 against 4.1390/1430 recorded at 6 pm Wednesday.

 A dealer said sentiment in the market was positive after the US Federal Reserve raised interest rates by 25 basis points to 2.25 per cent, its third such hike for this year.

“The policymakers left intact plans to steadily tighten monetary policy and anticipating the economy will enjoy at least three more years of growth. This sparked fresh appetite in the forex market,” he said.

Meanwhile, the ringgit traded mixed versus other major currencies.

It rose against the Singapore dollar to 3.0308/0340 from 3.0320/0354 on Wednesday and strengthened against the euro to 4.8638/8689 from 4.8695/8747.

The ringgit, however, depreciated vis-a-vis the yen to 3.6668/6707 from yesterday’s 3.6648/6699 and weakened against the British pound to 5.4518/4596 from 5.4486/4543. – Bernama

Most Asian currencies weaken after Fed hike; Taiwan dollar edges up

The following table shows rates for Asian currencies against the US$ at 0145 GMT (0945 Malaysian time) on Thursday Sept 27.

CURRENCIES VS U.S. DOLLAR

 Currency                     Latest bid  Previous day  Pct Move

 Japan yen                    112.850     112.72        -0.12
 Sing dlr                     1.366       1.3654        -0.07
 Taiwan dlr                   30.669      30.697        +0.09
 Korean won                   1115.900    1115.3        -0.05
 Baht                         32.460      32.43         -0.09
 Peso                         54.280      54.227        -0.10
 Rupiah                       14910.000   14900         -0.07
 Rupee                        72.605      72.61         0.00
 Ringgit                      4.143       4.139         -0.10
 Yuan                         6.880       6.8791        -0.02
                                                        
 Change so far in 2018 

 Currency                     Latest bid  End 2017      Pct Move

 Japan yen                    112.850     112.67        -0.16
 Sing dlr                     1.366       1.3373        -2.12
 Taiwan dlr                   30.669      29.848        -2.68
 Korean won                   1115.900    1070.50       -4.07
 Baht                         32.460      32.58         +0.37
 Peso                         54.280      49.977        -7.93
 Rupiah                       14910.000   13565         -9.02
 Rupee                        72.605      63.87         -12.03
 Ringgit                      4.143       4.0440        -2.39
 Yuan                         6.880       6.5069        -5.43
 – Reuters

Source: https://www.thestar.com.my/business/business-news/2018/09/27/ringgit-snaps-losses-to-go-higher-against-us$/#JDsx2jmibjeD2uz1.99