THE ringgit is likely to be firmer against the US dollar next week with the greenback set to trade range-bound as dealers remain cautious ahead of the Group of 20 leaders' meeting next week in London where world leaders will discuss currency movements.
The market is also awaiting the European Central Bank (ECB)'s meeting next week which is expected to cut rates by 50 basis points to one per cent and might announce further liquidity-boosting moves.
Dealers said the ringgit might touch 3.60 as investor confidence improves following the smooth leadership transition at the Umno general assembly.On a week-to-week basis, the ringgit was higher against the US dollar at 3.6085/6135 compared with 3.6450/6500 last Friday.
The local unit was higher against the Singapore dollar to 2.3899/3980 from 2.4128/4183 previously and strengthened against the yen at 3.6773/6835 from 3.8523/8600. The local unit rose against the euro at 4.8877/8956 from 4.9831/9921 and appreciated against the British pound at 5.1988/1074 from 5.3031/3115 previously. -- Bernama
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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