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Ringgit Lower Against US$ Early Friday

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KUALA LUMPUR: The ringgit was traded slightly lower Friday, ahead of the Christmas holiday this weekend due to lack of traders’ participation in the market, as well as influenced by external factors.

At 9 am(0100gmt), the local unit inched down and traded at 4.4750/4800 against the greenback from Thursday’s close of 4.4740/4770.

On global factors, FXTM Chief Market Strategist Hussein Sayed said the US economic data might provide some sort of volatility if the data were to deviate a lot from forecasts.
Mixed US economic data released yesterday had cushioned the fall of global currencies.

Consumer spending growth in the US slowed and was less than forecast in November as wages fell.

However, orders for US business equipment climbed more than forecast.

Hussein also noted that there is no significant moves in equities, fixed income, or even currency markets today as trading volumes shrank, suggesting that more consolidation is expected throughout the remaining days of 2016.

“With less traders on their desks and most investors planning to spend their New Year’s Eve, markets have clearly entered the holiday mood,” he said in a statement.

Against other major currencies, the local unit also traded mostly higher.

It appreciated against the Singapore dollar to 3.0862/0907 from Thursday’s 3.0879/0908, weakened against the yen to 3.8079/8147 from 3.8028/8079 and improved against the British pound to 5.4935/5023 from 5.5178/5219 Thursday

However, the local note inched down vis-a-vis the euro to 4.6719/6789 from 4.6718/6767 on Thursday.

— BERNAMA

EXCHANGE RATES ISSUED BY MALAYAN BANKING BHD: DEC 23:

SELLING BUYING BUYING

TT/OD TT OD

1 US Dollar 4.5360 4.4190 4.4090

1 Australian Dollar 3.2870 3.1820 3.1660

1 Brunei Dollar 3.1380 3.0390 3.0310

1 Canadian Dollar 3.3710 3.2710 3.2590

1 Euro 4.7430 4.6040 4.5840

1 New Zealand Dollar 3.1540 3.0300 3.0140

1 Papua N Guinea Kina 1.5400 1.2860 1.2700

1 Singapore Dollar 3.1375 3.0390 3.0310

1 Sterling Pound 5.5650 5.4280 5.4080

1 Swiss Franc 4.4220 4.3100 4.2950

100 UAE Dirham 125.3200 118.5100 118.3100

100 Bangladesh Taka 5.8260 5.4920 5.2920

100 Chinese Renminbi 65.4000 62.9000 0.0000

100 Danish Krone 65.5700 60.1700 59.9700

100 Hongkong Dollar 59.2900 56.0900 55.8900

100 Indian Rupee 6.8180 6.3800 6.1800

100 Indonesian Rupiah 0.0351 0.0315 0.0265

100 Japanese Yen 3.8770 3.7460 3.7360

100 New Taiwan Dollar 15.2000 NA 0.0000

100 Norwegian Krone 53.6100 49.1800 48.9800

100 Pakistan Rupee 4.4200 4.1300 3.9300

100 Philippine Peso 9.2600 8.7000 8.5000

100 Qatar Riyal 126.0400 119.8900 119.6900

100 Saudi Riyal 122.4700 116.2600 116.0600

100 South Africa Rand 33.2800 30.6200 30.4200

100 Sri Lanka Rupee 3.1200 2.8400 2.6400

100 Swedish Krona 50.8800 46.2400 46.0400

100 Thai Baht 13.4700 11.4000 11.0000

— BERNAMA

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