Ringgit ends firmer versus greenback

Posted by Trading Advisor on 1:30 PM with No comments
KUALA LUMPUR: The ringgit ended on a firmer note versus the US dollar today, bolstered by commercial demand, dealers said.
At 5 pm, the local note was quoted at 4.2560/2640 against the greenback from 4.2700/2750 on Wednesday.
A dealer said despite oil prices falling for the fourth day in a row today, the ringgit was well supported from a continued buying interest and exporters' demand.
"However, concerns over the sustained global supply glut will keep the currencies of oil-producing nations under pressure," he said.
Another dealer said the ringgit might be trading in a tight range of 4.23 to 4.27 until early next week, with more reactions could be expected after the US Federal Open Market Committee meeting scheduled for Dec 15 and 16.