Saturday, November 29, 2008

Ringgit Expected To See Volatile Trading

The ringgit is expected to see volatile trading against the US dollar next week on concern over the sharp global economic downturn, dealers said.

According to them, the current situation is encouraging investors to seek safe-haven assets and lower-yielding currencies.

On a Friday-to-Friday basis, the ringgit was lower adjoin the US dollar at 3.5500/5540 compared with endure Friday's closing of 3.5460/5510.

Against the Singapore dollar, the bounded assemblage was firmer at 2.3759/3806 from 2.3890/3945 endure Friday and it aswell adequate adjoin the Japanese yen at 3.6455/6507 from 3.6594/6665 previously.

The ringgit about attenuated adjoin the euro at 4.5515/5576 from 4.5058/5135 endure Friday but it was college adjoin the British batter at 5.5856/5936 from 5.7587/7686 previously.

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