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Ringgit ends lower against US dollar

Mimi Sabreena 6:58:00 PM Malay Mail Online | All, Mukah Pages

KUALA LUMPUR, Aug 12 — The ringgit closed lower against the US dollar today as the greenback firmed, following comments from a Federal Reserve official on the possibility of interest rate increase this year.

At 6pm, the local unit was quoted at 4.0260/0310 against the US dollar from 4.0020/0070 on Thursday.

A dealer said the slide in ringgit was also in tandem with most emerging Asian currencies.

“However, the local note remained bullish against the US dollar amid support from firmer oil price and prevailing risk sentiment.

“It has gained 1.2 per cent against the US dollar so far this week as most government bond prices rose,” he said.

The local currency was also traded lower against a basket of major currencies except for the yen.

It fell against the Singapore dollar to 2.9898/9939 from 2.9781/9836 on Thursday, slipped against the British pound to 5.2153/2230 from 5.1894/1983 yesterday and was lower against the euro to 4.4882/4946 from 4.4598/4670 on Thursday.

The ringgit rose against the yen to 3.9393/9454 from 3.9464/9528 on yesterday. — Bernama

from Malay Mail Online | All http://ift.tt/2aHa7rJ

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