Thursday, December 11, 2008

FOREX:Ringgit Easier Against US Dollar In Early Trade

KUALA LUMPUR, Nov 4 (Bernama) -- The ringgit was easier against the US dollar in the early trading on Tuesday as investors stayed on the sidelines amid uncertainties in the global market, dealers said.

At 9.06 am, the local currency was lower against the greenback at 3.5380/5430 from yesterday's closing of 3.5210/5260.

They said there was some profit taking in the market after strong gains yesterday.

"Players are also awaiting the government's announcement on additional economic measures later today in order to boost the country's economy growth," a dealer said.

In the early trade today, the local unit was traded mixed against other major currencies.

It was lower against the Singapore dollar at 2.3838/3891 from 2.3947/4004 yesterday and depreciated against the Japanese yen at 3.5737/5806 from 3.5465/5526 previously.

Against the euro, the ringgit was higher at 4.4621/4695 from 4.5122/5193 yesterday and strengthened against the British pound at 5.5861/5962 from 5.7104/7199 previously.

-- BERNAMA

source

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