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Friday, October 22, 2021

Malaysia: Rubber closes higher on weakening ringgit

The Malaysian rubber market closed higher today on the weakening of the ringgit against the US dollar, dealers said.

They said besides the positive sentiments following low rubber inventories in Japan, the expectations that the US Federal Reserve may hold off on reducing the pace of monetary stimulus also gave support to the market.

At noon, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 was 6.5 sen higher at 806.5 sen a kg and latex-in-bulk added six sen to 544.5 sen a kg.

The unofficial closing price for tyre-grade SMR 20 gained three sen to 808 sen a kg and latex-in-bulk rose five sen to 547 sen a kg.– Bernama

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