Ringgit closes lower against greenback

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KUALA LUMPUR: The ringgit closed lower against the US dollar today on lack of buying interest, taking the cue from the easier Bursa Saham Malaysia.

At 6pm, the local unit stood at 4.4250/4300 against the greenback compared with 4.4230/4280 on Tuesday.

A dealer said the ringgit’s fall was in tandem with other Asian currencies which retreated after Asian stocks posted their biggest drop in two weeks today.

“Investors pulled out from risk assets and this affected regional currencies,” he said.

Most Southeast Asian equities were on a downtrend today, as investors took the cue from WallStreet’s sell-off following renewed concern over US President Donald Trump’s economic growth agenda and a possible delay in his tax initiatives, he added.

The ringgit, meanwhile, was traded mixed against other major currencies.

It rose against the Singapore dollar to 3.1596/1643 from 3.1643/1696 on Tuesday and slipped against the Yen to 3.9740/9795 from 3.9277/9332 yesterday.

The ringgit improved against the Euro to 4.7719/7791 from 4.7729/7796 on Tuesday and fell against the British pound to 5.5140/5216 from 5.5097/5177 yesterday. — Bernama


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