THE ringgit advanced against the US dollar for a seventh consecutive day, its longest stretch of gains in a year, to close at 2.9647/9667 from Wednesday's 2.9780/9801, dealers said.
The ringgit extended its rally mostly due to the weakening US dollar as it fell further following the Federal Reserve's decision to keep US interest rates low.
Against other major currencies, the ringgit was traded mixed, appreciating against the Singapore dollar to 2.4144/4180 from 2.4156/4179, as well as against the Japanese yen to 3.6354/ 6392 from 3.6397/6432 previously.
The ringgit, however, depreciated against the British pound to 4.9460/ 9502 from 4.9328/9371 and also against the euro to 4.4020/4058 from 4.3738/3778 on Wednesday.
SHORT-TERM rates closed stable yesterday with Bank Negara Malaysia continuing to intervene in the money market to absorb surplus funds.
As a result, the overnight rate was fixed at 2.71 per cent while the one-week, two-week and three-week rates were set at 2.75, 2.78 and 2.79 per cent, respectively.
Total liquidity surplus in the conventional system was reduced to RM39.93 billion from an earlier estimate of RM58.24 billion.
On Islamic funds, total cashflow surplus declined to RM9.89 billion from an earlier forecast of RM12.66 billion.
Earlier, the central bank conducted nine tenders - four conventional, a repo, a commodity murabahah programme and three Al-Wadiah tenders.
It also issued a late conventional tender for RM39 billion and an Al-Wadiah tender for RM8.6 billion, both for one-day money.
THE three-month Kuala Lumpur Interbank Offered Rate (KLIBOR) futures contracts on Bursa Malaysia Derivatives closed untraded yesterday.
The May 2011, June 2011, July 2011 and September 2011 contracts ended at 96.78, 96.75, 96.65 and 96.55 respectively.
The underlying three-month KLIBOR rose to 3.10 per cent from Wednesday's 3.09 per cent.
The five-year Malaysia Government Securities futures were also untraded.