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Ringgit ends lower against US Dollar

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KUALA LUMPUR: The ringgit ended lower against the US dollar today as the greenback rebounded after market players brushed off North Korea’s missile launch fears.

At 6pm, the local unit was quoted at 4.2690/2720 against the greenback from Tuesday’s close of 4.2655/2685.

A dealer said the ease in geopolitical tensions, coupled with the positive US Consumer Confidence Index released late Tuesday, had prompted investors to shift towards the US dollar due to the improved risk appetite.

Meanwhile, he said, weaker crude oil prices also resulted in a softer ringgit versus the greenback.

Benchmark Brent crude oil futures fell seven US cents to US$51.93 a barrel while the US West Texas Intermediate crude oil futures were nine US cents lower at US$46.35 a barrel.

At the close, the local note, however, was traded higher against other major currencies.

It appreciated against the Singapore dollar to 3.1482/1514 from 3.1543/1576 on Tuesday and firmer versus the yen to 3.8837/8882 from 3.9281/9319 yesterday.

The ringgit rose against the euro to 5.1010/1063 from Tuesday’s close of 5.1344/1397 and vis-a-vis the pound, it advanced to 5.5168/5220 from 5.5315/5358 yesterday. — Bernama


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