The Malaysian ringgit rose today as investment environment looked good for currencies of emerging markets amid growth of the US economy and hopes for Europe.
Spain sold more than its maximum target at today’s debt auction as demand for government bonds was far higher than the amount offered. French borrowing costs dropped. China eased capital requirements for lenders in an attempt to stimulate its economy. A rally of stocks and commodities followed, adding to positive mood on markets.
USD/MYR dropped from 3.1185 to 3.1015 as of 10:39 GMT today.
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