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Ringgit Opens Higher Against US$ Thursday

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KUALA LUMPUR: The ringgit rebounded against the US dollar Thursday, supported by the rise in oil prices, analysts said.

At 9 am(0100GMT), the local unit was traded at 4.1600/1670 from 4.2170/2230 against the greenback on Wednesday.

An analyst said the surge in oil prices was due to speculation that there may be a possible cut in global production by the Organisation of the Petroleum Exporting Countries (OPEC) this month.

The global benchmark, Brent Crude futures, rose to US$35 a barrel.

The ringgit, however, traded mostly lower against other major currencies.

It rose against the Singapore dollar to 2.9389/9459 from 2.9485/9546 on Wednesday but dipped against the yen to 3.5338/5413 from 3.5150/5212.

The local note also eased against the British pound to 6.0719/0842 from 6.0704/0807 and fell against the euro to 4.6222/6316 from 4.5995/5069. — BERNAMA

ASIA FX-Ringgit, won, Taiwan dollar, rupiah advance
TThe following table shows rates for Asian currencies against the dollar at 0132 GMT(0932 Malaysian time) on Thursday.

CURRENCIES VS U.S. DOLLAR

Currency Latest bid Previous day Pct Move

Japan yen 118.11 117.91 -0.17
Sing dlr 1.4144 1.4140 -0.03
Taiwan dlr 33.373 33.808 +1.30
Korean won 1202.80 1219.30 +1.37
Baht 35.59 35.82 +0.65
Peso 47.75 47.86 +0.24
Rupiah 13650.00 13750.00 +0.73
Rupee 68.07 68.07 +0.00
Ringgit 4.1580 4.2200 +1.49
Yuan 6.5783 6.5764 -0.03

Change so far in 2016
Currency Latest bid End prev year Pct Move
Japan yen 118.11 120.30 +1.85
Sing dlr 1.4144 1.4177 +0.23
Taiwan dlr 33.373 33.066 -0.92
Korean won 1202.80 1172.50 -2.52
Baht 35.59 36.00 +1.15
Peso 47.75 47.06 -1.43
Rupiah 13650.00 13785.00 +0.99
Rupee 68.07 66.15 -2.82
Ringgit 4.1580 4.2935 +3.26
Yuan 6.5783 6.4936 -1.29

– Reuters

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