Ringgit hits new low against US dollar
The ringgit closed slightly lower against the US dollar and most major currencies yesterday due to the lack of interest for the local currency, a dealers said.
At 5pm, the ringgit was lower against the greenback at 3.7170/7200 from Thursday’s close of 3.6950/6980.
The dealer said the ringgit fell to its lowest level since April 15 due to several factors.
“The local note was under pressure following the Organisation of Petroleum Exporting Countries meeting, which is now ongoing in Vienna, Austria. Any movement in oil prices would affect the ringgit as Malaysia is a net oil exporter.
“Another reason that might have weakened the ringgit is uncertainty that weighs on local sentiment,” he added.
Against other major currencies, the ringgit was traded mostly lower.
It inched down to 2.7568/7601 from 2.7480/7511 against the Singapore dollar and eased to 2.9793/9822 from 2.9779/9815 versus the yen.
Vis-a-vis the British pound, the local note was little changed from Thursday’s 5.6885/6946 from 5.6885/6942, while against the euro it improved to 4.1842/1887 from 4.1883/1932.
- Bernama
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