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- Saudi Arabian Shares Drop Most in 10 Months After Oil Tumbles
- Sipchem inks $373m loan deal for key project
- Yen Gains on Slowing U.S. Growth Amid Europe Crisis Safety Bets
- Canada Dollar Drops for Fifth Week as Jobs Data Adds to Gloom
- Ringgit seen remaining weak
- Gulf Bank's Alsamerai named 'HR Professional of the Year'
- Middle East Media wins 6-year exclusive advertising contract
- PDO extends Galfar contract
- OIB-HSBC Oman merger 'almost complete'
- Bahrain, India sign tax dealto boost ties
02/06/2012 12:36 AST
The ringgit is likely to remain weak next week amid global uncertainty and continuous concerns over the Euro zone debt crisis, dealers said.
The sluggish world economy turned investors towards safe-haven assets and curbed interest for riskier currencies.
"We expect local currencies to fall across the Asian space, reflecting the effect from China's slowdown and Europe's economic crisis," said a dealer, adding that investors would continue to monitor two major events - the Greek election and resolution of Spain's banking system.
On a Friday-to-Friday basis, the ringgit was traded lower against the US dollar at 3.1920/1940 from 3.1510/1550 last Friday.
It fell against the Singapore dollar to 2.4712/4743 from 2.4619/4670 last Friday and was lower against the yen at 4.0817/0866 from 3.9575/9641 previously.
The local unit appreciated against the British pound to 4.8792/8848 from last week's 4.9335/9407 and rose against the euro to 3.9373/9423 from 3.9627/9690 previously.
Bernama
| US Dollar | 1.00 |
| Euro | 0.88 |
| British Pound | 0.77 |
| Japanese Yen | 113.21 |
| Saudi Riyal | 3.75 |
| Kuwaiti Dinar | 0.30 |
| Derham Emirati | 3.67 |
| Bahraini Dinar | 0.38 |
| Omani Riyal | 0.39 |
| Qatari Riyal | 3.67 |
05/04/2018
Oman has the means to maintain its currency peg and has no plans to change it even though the decline in oil prices has hurt its finances, central bank Governor Tahir Al Amri said.
Oman's g
Gulf News
02/04/2018
China's yuan firmed against the dollar on Friday and is set to post its biggest quarterly gain in a decade, as the country attracts capital inflows and US trade frictions bolstered expectations of a
Gulf News
01/04/2018
The US dollar's share of currency reserves reported to the International Monetary Fund declined in the final quarter of 2017 to a four-year low, as other currencies' shares of reserves grew, data rel
Gulf News
29/03/2018
The US Dollar Index, a measure of the value of the US dollar against a basket of currencies, teetered and dropped to quarterly lows in March, which also happen to be the lowest the index has been sin
The National
29/03/2018
Turkey's lira weakened beyond the psychologically important level of 4.0 to the US dollar yesterday, bringing it close to a record low, as concerns about double-digit inflation, and politics, continu
Gulf Times
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