open higher againet US.Dollor In Forex
March 31 (Bernama) — The ringgit opened higher against the U.S. dollar today on active buying of the local currency amid weakening of the greenback in the global market, a dealer said.
At 9.28 am, the ringgit was traded higher against the U.S. dollar at 3.1920/1855 compared with 3.1950/2000 at Friday’s closing.
The dealer said trading of the greenback for this week is expected to remain lower on renewed concerns over the health of the U.S. economy following signs of slowing consumption in the U.S.
He said this had sent nervous among investors, making them fleeing to other safe haven investments such as in the Asian marekt in order to reap better returns.
The ringgit was also traded higher against the Singapore dollar at 2.3093/3133 from 2.3142/3197 but lower against the yen at 3.1937/1973 from 3.1928/1984 previously.
The ringgit was firmer against the British pound at 6.3638/3710 from 6.3722/3882 and strengthened against the euro at 5.0311/0368 from 5.0344/0432.
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ECB Current account
The current account deficit — the widest measure of eurozone trade and
financial transactions with countries outside the 15-nation area — came in higher than the 7.0 billion euros forecast by analysts polled by Thomson Financial News.”This reflected deficits in current transfers (10.3 billion euros) and income (4.7 billion euros) which were only partly compensated for by a surplus in services (4.2 billion euros),” the bank said in a statement.
Wednesday’s press release marked the first that new eurozone members Cyprus and Malta were counted in the balance of payments, although the ECB said the two countries had only a minor impact on the overall euro area results.In the financial account, combined direct and portfolio investment recorded net inflows of 22 billion euros in January, compared to 17.5 billion euros in December.
Net inflows in portfolio investment alone reached 54 billion euros while net outflows in direct investment hit 32 billion euros.
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