Ringgit Closes Higher After Three Straight Days Of Losses

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KUALA LUMPUR, Nov 22 – The ringgit closed higher against the US dollar today after three straight days of losses, as investors began to return to emerging Asian currencies, dealers said. The domestic currency was quoted at 3.3520/3570 against 3.3660/3675 recorded at Thursday’s closing. A dealer said that Asian markets had shown signs of recovery after Japanese Finance Minister Taro Aso said the yen’s fall over the past few weeks was too rapid.

The ringgit was slightly higher against the Singapore dollar at 2.5806/5847 from 2.5843/5874 on Thursday and weakened against the yen to 2.8424/8461 from 2.8374/8399 previously. The local unit rose against the British pound to 5.2450/2514 from 5.2675/2718 previously and against the euro to 4.1808/1855 from 4.2132/2158 on Thursday.

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