Selangor Journal

Ringgit expected to experience range-bound trading

KUALA LUMPUR, DEC 3: The ringgit will see range-bound trading next week and move between 4.45 and 4.46 (against the US dollar), on market adjustments following the announcement of new measures by Bank Negara Malaysia (BNM), said a dealer.
On Friday, BNM introduced measures that will come into effect on Monday. The measures aimed to further broaden, deepen and tackle the imbalance in the onshore foreign exchange market. For the week just-ended, the ringgit was traded higher at 4.4500/4550 against the greenback from 4.4530/4600 last Friday.
It ended mostly lower against other major currencies.
The ringgit appreciated against the yen to 3.9128/9179 last Friday from 3.9379/9455, but declined against the Singapore dollar to 3.1274/1327 from 3.1159/1224. The local unit fell to 4.7375/7432 against the euro from 4.7175/7267 and eased against the British pound to 5.6057/6137 from 5.5538/5639.

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