Ringgit falls to 4.26 against US dollar

comments     Bernama     Published     Updated

The ringgit closed lower today in line with the weakening of the regional currencies as the slowdown in China’s economy dampened commodity prices, dealers say.

At 5pm, the local unit was quoted at 4.2600/2695 against the US dollar from yesterday’s 4.2010/2100.

A dealer said the local unit declined in subdued trading as traders added US dollar holdings as sluggish economies in China and developing countries hurt appetite for risky assets.

However, he said, the local unit pared some of the earlier losses, tracking a slight retreat in the greenback.

The ringgit also weakened against other major currencies.

It declined against the Singapore dollar to 3.0647/0736 from yesterday’s 3.0376/0456 and fell against the yen to 3.5643/5737 from 3.5184/5274 previously.

The local unit eased against the pound sterling to 6.5924/6083 from 6.4960/4112 yesterday and fell against the euro to 4.8385/8502 from 4.7719/7830 previously.

- Bernama



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