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Ringgit closes slightly easier against US dollar

August 30, 2012

KUALA LUMPUR: The ringgit was traded marginally lower against the US dollar in the late session today, as investors took short position ahead of the National Day celebrations tomorrow, dealers said.

As at 5pm, the ringgit was quoted at 3.1245/1285 per US dollar compared with 3.1215/1245 yesterday.

Another dealer said other emerging currencies led by the rupiah showed a downtrend today in the absence of fresh catalyst for the global market.

He said investors were reluctant to hold riskier assets including the ringgit.

“Investors also bet that there is no further monetary easing by the Federal Reserve next month,” he added.

The ringgit was traded mixed against other regional currencies.

It declined against the Singapore dollar to 2.4934/4964, from 2.4902/4930 yesterday but was marginally higher against the yen at 3.9703/9761 versus yesterday’s 3.9754/9797.

The local unit fell against the British pound to 4.9403/9456 against 4.9363/9423 yesterday but rose against the euro to 3.9191/9241 from 3.9200/9241 yesterday.



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