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- Mirza begins structured trade and SCF role at Riyad Bank
- Riyad Bank Gets $1.5 Billion as Mideast Loans to Asia Hit Record
- Riyad Bank begins dollar-denominated debt issuance with $200,000 minimum
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- QCB foreign reserves rise 2.65% in December to QR261.868bn
30/04/2011 00:00 AST
The ringgit, which has remained firm at 2.96 per US dollar, is likely to extend its present uptrend next week.
A dealer said the ringgit was able to stay above the 3.00 mark due to continuous weakening of the US dollar and high commodity prices fueling speculation that policy makers in Asia would step up tightening efforts.
"With the speculation that Asian central banks will raise interest rates and US dollar remaining weak, ringgit will stay firm depending on Bank Negara Malaysia's stance," he said.
Such expectations would attract foreign funds seeking higher returns from the widening interest rate differentials between Malaysia and developed nations, especially the US which has keep rates low for an extended period.
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Business Times
| Ticker | Price | Volume |
|---|
| Index | Closing | Change |
|---|---|---|
| NIKKEI 225 | 36,581.76 | -251.51 (-0.68 |
| DAX | 18,699.40 | 181.01 (0.97 |
| S&P 500 | 5,626.02 | 30.26 (0.54 |
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