Ringgit witnesses a soaring close
With stable performance and steady momentum of share prices in Asian markets as well as in local bourse, Ringgit witnessed a higher closing against the US currency.
With a bailout of mortgage companies Fannie Mae and Freddie Mac in order to control the loss and financial fears in sub-prime fiscal market of United States, Asian markets came together. It also brought in an encouraging market assurance in Malaysian bourse.
From a close of 3.4570/4600 on Friday, Ringgit firmed at 3.4300/4350 against US dollar. The firmness was also seen against other Asian currencies, as it strengthen at 2.3998/4061 against Singapore dollar after closing at 2.4087/4128 on Friday, while its firmed at 3.1575/1627 against yen from 3.2524/2562.
The strength and steadiness of Ringgit could also be seen against European currencies like euro and British pound, as it strengthen at 4.8836/8911 against euro from 4.9231/9284 and at 6.0660/0762 against British pound from 6.0978/0041