Ringgit closes higher against major currencies, Asean peers
KUALA LUMPUR: The ringgit closed higher against the US dollar today, buoyed by improved regional sentiment.
At 6 pm, the local note rose to 4.2060/2130 versus the greenback from last week's close of 4.2300/2355.
SPI Asset Management managing partner Stephen Innes said improving trade sentiment, spurred by the United States-China framework deal and ongoing negotiations with key Asian partners, has helped reduce risk premiums across the region.
"This has prompted renewed investor interest in emerging markets such as Malaysia,' he told Bernama.
Innes noted that with US inflation easing, expectations are rising for more aggressive rate cuts, particularly if a new Federal Reserve chair under the Donald Trump administration adopts a more dovish stance.
"This could place further pressure on the US dollar, and the ringgit's strength today is broadly in line with regional currency movements,' he added.
At the close, the ringgit traded higher against a basket of major currencies and its ASEAN peers.
It appreciated against the Japanese yen to 2.9156/9206 from 2.9359/9399, enhanced versus the British pound to 5.7597/7693 from 5.8141/8217, and gained against the euro to 4.9290/9372 from 4.9597/9661 last week.
The ringgit also advanced vis-à-vis the Singapore dollar to 3.2986/3034 from 3.3192/3240, escalated against the Thai baht to 12.9356/9627 from 13.0254/0488, strengthened against the Indonesian rupiah to 259.0/259.5 from 260.9/261.4, and rose against the Philippine peso to 7.46/7.48 from 7.47/7.49, previously. - Bernama
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
an hour ago
- The Star
High MyKad usage for Sara programme in Sabah
BELURAN: Sabah has shown a high rate of MyKad usage for the Sumbangan Asas Rahmah (Sara) programme, with 94% of recipients making purchases on registered premises. Deputy Finance Minister Lim Hui Ying said there are 506,000 Sara recipients with RM500mil approved annually. 'Currently, there are almost 4,000 registered grocery shops and supermarkets in the country compared to 700 in 2024. 'In Sabah alone, there are over 430 registered premises, and this number will increase to ensure better access in all areas,' she stated in a press release yesterday. She also said that the government is enhancing the range of basic necessities permitted in the programme by expanding the current 14 categories to include household items such as soap, detergent, and floor cleaners, effective May 1. On her working visit to Beluran with Finance Ministry officers, Lim said it was part of their commitment. 'The main focus of the visit is to check out the implementation of the Rahmah Cash Aid (STR) in addition to Sara and to directly interact with recipients, as the programme allows the government the opportunity to assess the effectiveness of the aid and to obtain feedback from recipients, especially from the interior of Sabah. 'In Malaysia, there are 566,000 STR recipients without bank accounts; in Sabah, 62,000 out of 830,000 STR recipients do not have bank accounts. 'Today (Monday), almost 400 recipients in Beluran without bank accounts showed up for the STR cash payment programme,' she added, Bernama reported. Lim also shared that RM410mil has been channelled for Phase One and Two of STR payments in Sabah, with two more STR payments to be made in August and November. 'As such, a mobile Bank Simpanan Nasional branch has been initiated to offer banking services, including deposits, withdrawals and financial advice, to rural residents in Beluran at their doorstep.'
The Sun
2 hours ago
- The Sun
Wimbledon qualifier Tarvet plans creative expenses to bypass NCAA rules
BRITAIN'S Oliver Tarvet aims to be creative with his expenses after the amateur beat fellow qualifier Leandro Riedi in his first Grand Slam match at Wimbledon on Monday. The University of San Diego student rose to the occasion, dispatching his Swiss opponent 6-4, 6-4, 6-4. The 21-year-old now has the daunting task of facing Carlos Alcaraz in the second round after the defending champion beat veteran Fabio Fognini. Tarvet's victory came after he battled through three rounds of qualifying to make it to the grass-court major. But the Tarvet, 733 in the ATP rankings, will not profit significantly from his hard work. Under National Collegiate Athletic Association (NCAA) rules in the United States, players are required to stay amateur and are restricted in how much prize money they can claim from professional tournaments. Tarvet is planning to go back to university for his final year, meaning his Wimbledon prize money, which is now guaranteed to be at least £99,000 ($135,000), will largely go unclaimed. Tarvet can collect $10,000 as well as the expenses he has incurred during the tournament. The British player has called for a change in the rules, joking that he would fly his coach to London with a first-class ticket to try to ensure he would not have to forfeit too much. After securing the biggest win of his career, Tarvet told reporters he hoped to find a way to claim the money as expenses. 'I will try and do everything I can to make that work out and to find X amount of expenses so I'm under $10,000 of profit,' he said. 'Something I've got to figure out. Maybe I hire someone to help me out with the expenses, make sure the NCAA are happy. As I said, it's very important for me. I have a lot of goals at USD (University of San Diego) still.' Tarvet, who said the win on the opening day at the All England Club was a 'dream come true', spelt out his strategy in more detail. 'By December, I need to show that profit or prize money minus expenses equals less than $10,000,' he said. He said after taxes were paid he would have to find £60,000-£70,000 of expenses to cover his winnings for reaching the second round. 'Tennis is an expensive sport. So, hopefully, I can make that happen,' he said to laughter. 'As I said, just pay my coaches a little bit extra. I don't know. We'll figure something out. Fly business class. 'Obviously, no, I keep humble. But yeah, really try to make that happen.'
New Straits Times
3 hours ago
- New Straits Times
Onn Hafiz: RTS Link achieves 50 per cent physical progress
JOHOR BARU: The Johor Bahru-Singapore Rapid Transit System (RTS) Link project has achieved 56 per cent physical progress as of June. Johor Menteri Besar Datuk Onn Hafiz Ghazi said it involves track construction, station development as well as system and train testing. "I am confident that all of this is a good start in elevating Johor as a major economic power in the region. "It also reflects the commitment of the state government together with the federal government and Singapore in building modern, efficient and safe infrastructure for the convenience of the people," he said in a Facebook post yesterday. Onn Hafiz said the RTS Link, which connects Bukit Chagar, here to Woodlands North, Singapore in just five minutes, will solve the problem of border congestion as well as strengthen Malaysia-Singapore relations and stimulate the regional economy. He said the project, which is expected to be completed by the end of 2026, was designed with high efficiency and is capable of carrying 10,000 passengers per hour in each direction and a frequency of 3.6 minutes during peak hours, thus being able to accommodate up to 180,000 passengers per day. Onn Hafiz together with Transport Minister Anthony Loke today witnessed the launch of the first RTS Link train in Singapore, which was also attended by Singapore's Acting Transport Minister Jeffrey Siow and Singapore's Foreign Minister Dr Vivian Balakrishnan. – BERNAMA
