THE ringgit extended its uptrend against the US dollar in late trading yesterday on active buying, dealers said.They said the ringgit closed at 3.4880/4930 compared with 3.4950/5000 on Wednesday.A dealer said the country's strong economic fundamentals had boosted interests among investors in buying the ringgit, which was likely to flow into the stock market.
"The market sentiment has improved on expectation of robust recovery in Malaysia's gross domestic product by next year," he said.Deutsche Bank group chief economist, Prof Dr Norbert Walter, said yesterday the bank expected Malaysia's growth to resume and go back to three per cent next year.
He also anticipated global economy to recover in 2011 with 1.5 per cent growth supported by the strength of Asian emerging markets.The local unit closed stronger against other major currencies.It was unchanged against the Singapore dollar at 2.4355/4414 and strengthened against the yen at 3.6589/6657 from 3.6735/6807 previously.Against the British pound, it rose to 5.9244/9343 from 5.9366/9465 on Wednesday and it was also higher against the euro at 5.0227/0313 from 5.0290/0372 previously.
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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