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Brexit continues to weigh heavy on ringgit

Mimi Sabreena 6:59:00 PM Malay Mail Online | All, Mukah Pages

KUALA LUMPUR, June 16 — The ringgit closed lower against the US dollar today, tracking the decline in overnight oil market and the weaker local equities market, dealers said.

At 5pm, the local note was quoted at 4.0970/0030 against the US dollar from yesterday’s 4.0950/0000.

The FTSE Bursa Malaysia KLCI (FBM KLCI) dropped 13.06 points to finish at 1,614.90 weighed down by selling activities in heavyweight stocks.

A dealer said concerns over expectations for Brexit (the UK leaving the European Union) would continue to affect the local bourse and foreign exchange market, as well as emerging Asian currencies until the June 23 referendum.

The local unit was traded mostly lower against other major currencies.

The ringgit depreciated against the Singapore dollar at 3.0312/0377 from 3.0215/0272 yesterday, decreased against the yen at 3.9330/9403 from 3.8512/8570 and lower versus the euro at 4.6128/6212 from 4.5938/5002.

However, the ringgit appreciated against the British pound at 5.8038/8135 from 5.8104/8195 yesterday. — Bernama

from Malay Mail Online | All http://ift.tt/1Pvod8Q

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