FOREX: Ringgit Ends Higher Against U.S. Dollar

FOREX: Ringgit Ends Higher Against U.S. Dollar


KUALA LUMPUR, Oct 13 (Bernama) -- The ringgit ended higher against the US dollar Monday in line with gains by other Asian currencies, dealers said.At 5pm, the ringgit traded higher at 3.4930/4970 compared with last Friday's closing of 3.5115/5145.Dealers said Asian currencies were buoyed by the rising stock market after an announcement by the Group of Seven (G7), that it would inject public funds into the banking system if necessary, to tackle the global financial crisis."The market reacted positively to the G7 announcement to contain the financial crisis.This spurred buying interest in the local market," a dealer said.In late trading today, the local currency traded mixed against other major currencies.It depreciated against the Singapore dollar at 2.3783/3837 from 2.3744/3785 last Friday while being firmer against the Japanese yen at 3.4704/4774 from 3.5391/5428 previously.The ringgit was stronger against the euro at 4.7616/7698 from 4.7809/7860 last Friday while it was lower against the British pound at 5.9947/6.0050 from 5.9481/9550 previously.