KUALA LUMPUR, Sept 19 – The dealers said that the ringgit was closed higher against the US dollar for the fifth trading day on continued demand for emerging currencies despite the US Federal Reserve’s decision to maintain the interest rates. The ringgit was quoted at 4.2030/2110 against the US dollar from 4.2500/2600 on Thursday at 5 pm.
“In the same time, the despite of the most investors anticipating that the Fed would keep the rates unchanged. Meanwhile, the announcement on Thursday has triggered broad losses for the greenback, dampening the currency down to a three-week low,” the dealer said.
“On the uncertain global growth outlook also added to investors’ worries, despite the Fed’s hint of a possible modest policy tightening later this year. While the local note was also traded mostly higher against other major currencies,” commented by Fed Chair Janet Yallen’s.
It strengthened against the Singapore dollar to 3.0211/0273 from Thursday’s 3.0368/0455 but fell against the yen to 3.5242/5315 from 3.5162/5256 previously. The local unit rose against the euro to 4.8112/8208 from 4.8148/8274 on Thursday and appreciated vis-a-vis the British pound to 6.5697/5831 from 6.5879/5056 previously.
