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--> KUALA LUMPUR: The ringgit opened at a new high in 28 months Thursday, Aug 19 on news that Bank Negara Malaysia (BNM) has eased regulations on ringgit transactions for trade settlement.
A foreign exchange dealer with a local bank said the move was seen as another step towards full liberalisation of the local unit, towards a freely traded currency.
At 9.02am, the ringgit traded at 3.1280/1310 to the US dollar compared with 3.1540/1570 at Wednesday's close.
"The local unit surged to a 28-month high today since April 28, 2008," the dealer said.
BNM governor Tan Sri Dr Zeti Akhtar Aziz announced on Wednesday that exporters and importers can now use the ringgit as well as other currencies to settle trades with foreign countries.
Meanwhile, the ringgit also strengthened against the Singapore dollar to 2.3133/3175 from 2.3277/3320, the Japanese yen to 3.6555/6607 from 3.6915/6963, the British pound to 4.8697/8759 from 4.9224/9281 and the euro to 4.0057/0102 from 4.0620/0668. ' Bernama
--> KUALA LUMPUR: The ringgit opened at a new high in 28 months Thursday, Aug 19 on news that Bank Negara Malaysia (BNM) has eased regulations on ringgit transactions for trade settlement.
A foreign exchange dealer with a local bank said the move was seen as another step towards full liberalisation of the local unit, towards a freely traded currency.
At 9.02am, the ringgit traded at 3.1280/1310 to the US dollar compared with 3.1540/1570 at Wednesday's close.
"The local unit surged to a 28-month high today since April 28, 2008," the dealer said.
BNM governor Tan Sri Dr Zeti Akhtar Aziz announced on Wednesday that exporters and importers can now use the ringgit as well as other currencies to settle trades with foreign countries.
Meanwhile, the ringgit also strengthened against the Singapore dollar to 2.3133/3175 from 2.3277/3320, the Japanese yen to 3.6555/6607 from 3.6915/6963, the British pound to 4.8697/8759 from 4.9224/9281 and the euro to 4.0057/0102 from 4.0620/0668. ' Bernama
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