FOREX: Ringgit Closes Flat Against U.S. Dollar
KUALA LUMPUR, July 1 (Bernama) -- The ringgit closed almost flat against the US dollar Wednesday amid further liberalisation announcement yesterday which is expected to woo more foreign investments, dealers said.
At 5pm, the ringgit changed marginally at 3.5170/5210 against the greenback from yesterday's 3.5170/5200 yesterday.
"The market is generally steady, boosted by the market liberalisation announcement yesterday," a dealer said.
She said the announcement managed to address the ringgit decline which has taken place over the last few months.
However, the dealer expects the ringgit's direction to be dictated by developments in the US economy.
The ringgit was traded mostly higher against other major currencies at today's close.
The local unit was almost flat against the Singapore dollar at 2.4289/4340 from yesterday's 2.4289/4335 and strengthened against the British pound at 5.7788/7864 from 5.8502/8566.
Compared with the Yen, the ringgit appreciated at 3.6325/6374 from 3.6847/6887 and also rose against the Euro at 4.9488/9555 from 4.9565/9618 previously.
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