September 6, 2009

RInggit likely to rise next week

Published: 2009/09/05

The ringgit is likely to trade firmer against the US dollar next week on steady commercial demand for the local currency, dealers said.

Further support could come should Bursa Malaysia continue to move upward, one of them said.

This week, the ringgit's movement mainly followed the performance of Malaysian and regional stock markets.

On a week by week comparison, the ringgit was lower against the US dollar at 3.5230/5280 compared with 3.5200/5250 previously.

It also eased against the Singapore dollar to 2.4465/4520 from 2.4453/4512, the Japanese yen to 3.7959/7017 from 3.7439/7512 and the British pound to 5.7608/7707 from 5.7478/7570.

However, the local unit rose against the euro to 5.0308/0383 from 5.0537/0615. -- Bernama

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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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