Malaysian Ringgit Rises To 2-day High Against U.S. Dollar
March 05 2015 - 11:37PM
RTTF2
The Malaysian ringgit strengthened against the U.S. dollar in
the Asian session on Friday.
In economic news, data from the Department of Statistics showed
that Malaysia's exports and imports decreased unexpectedly in
January. Exports fell 0.6 percent year-on-year in January, defying
expectations for a 2.5 percent rise. Also, imports declined 5.3
percent, in contrast to the 1.5 percent increase expected by
economists
Against the greenback, the ringgit rose to a 2-day high of
3.6430. At yesterday's close, the ringgit was trading at
3.6629.
If the ringgit extends its uptrend, it is likely to find
resistance around the 3.57 area.
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