Ringgit closes lower against US dollar

Decrease Font Size Increase Font Size Text Size Print This Page

Kuala Lumpur
– The ringgit closed lower against the US dollar today in line with other Asian emerging currencies weighed down by prevailing risk-off sentiment in the markets, a dealer said.

At 6pm, the ringgit stood at 4.2900/2930 against the greenback’s Wednesday’s close of 4.2870/2910.

The dealer said US-North Korea tension, which had dampened investment sentiments, contributed to the losses in the Asian currencies market as investors were still weighing its impact.

“However, the US dollar remained steady against major currencies as traders are focusing on US inflation data due Friday given its potential impact on Federal Reserve’s monetary policy for further market direction,” he said.

Meanwhile, the ringgit closed higher against a basket of major currencies.

The local currency rose against the Singapore dollar to 3.1438/1474 from 3.1455/1496 on Wednesday and strengthened against the British pound to 5.5736/5779 from 5.5765/5834 yesterday.

It appreciated versus the yen to 3.9035/9077 from 3.9040/9087 on Wednesday and improved against the euro to 5.0232/0284 from 5.0321/0385 yesterday. — Bernama