NST Online Business Times : latest
NST Online Business Times : latest |
| Ringgit opens lower against US dollar Posted: 06 Mar 2013 06:27 PM PST The ringgit opened lower against the US dollar in early trade today, dealers said. The ringgit was quoted at 3.1090/1125 to a US dollar against 3.1050/1070 yesterday. The dealers said this was in line with the strengthening of the greenback, driven by the overnight rally in US stocks and an improved outlook in the American jobs market. The local currency was higher against the Singapore dollar at 2.4888/4920 from 2.4944/4962 yesterday, and rose against the yen at 3.3053/3105 from 3.3230/3269 previously.
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| Short-term rates to remain stable Posted: 06 Mar 2013 06:30 PM PST Short-term rates are expected to remain stable Wednesday, with Bank Negara Malaysia intervening to absorb excess liquidity from the financial system, dealers said. The central bank estimated today's surplus at RM26.396 billion in the conventional system and RM6.825 billion in Islamic funds. Bank Negara will call for four conventional tenders of RM1 billion for seven days, RM1 billion for 14 days, RM1 billion for 21 days and RM1 billion for 32 days. It will also conduct a repo tender for RM200 million for 92 days.
The central bank will conduct a Commodity Murabahah Programme of RM100 million for 26 days. At 4pm, the central bank will conduct an up to RM22.3 billion conventional overnight tender and RM2.5 billion Al-Wadiah overnight tender.-- Bernama |
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