Ringgit Closes Lower Against Dollar

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KUALA LUMPUR, Jul 20 – The ringgit ended on an easier note against the US dollar at Wednesday’s closing following an overnight slip in global crude oil prices. At 6pm, the local unit was quoted at 4.0240/0300 versus the greenback from 4.0000/0080 on Tuesday. In a note, Hong Leong Bank said it expected the ringgit’s bearish tone to sustain against a firm greenback amid a loss of support from negative market sentiment on top of decline in oil prices.

 The ringgit was weaker against a basket of major currencies. It fell against the Singapore dollar to 2.9656/9704 from 2.9579/9643 yesterday and dropped against the yen to 3.7724/7794 from 3.7661/7747 on Tuesday.  Against the British pound, the ringgit weakened to 5.3060/3152 versus 5.2780/2902 yesterday and against the euro, it eased to 4.4288/4362 from 4.4244/4349 on Tuesday. — Bernama

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