KUALA LUMPUR, July 8 (Bernama) — The ringgit tested the 2.9950 level
against the US dollar at 9.24am as market players responded positively to
Bank Negara Malaysia’s decision to raise the statutory reserve requirement (SRR)
ratio yesterday, dealers said.
The central bank, however, surprised the market by retaining the overnight
policy rate at 3.00 per cent.
The local unit was quoted at 3.0070/0110 at 5pm yesterday. It last hit an
all-time high of 2.9612 on April 28.
Meanwhile, the ringgit was also higher against major currencies.
The local currency rose against the Singapore dollar to 2.4489/4534, from
2.4519/4572, yesterday and appreciated against the yen to 3.6843/6885, from
3.7142/7210, previously.
The ringgit improved against the British pound to 4.7845/7902, from
4.8052/8125, on Thursday and increased against the Euro to 4.3017/3069
from 4.3030/3102, yesterday.
— BERNAMA
NBB VMD