Ringgit Ends Lower Against US Dollar

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KUALA LUMPUR, Mar 29 – The ringgit closed lower against the US dollar today on lack of buying interest as investors shifted interest towards safe-haven currencies, a dealer said. At 6pm, the local unit stood at 4.4170/4210 against the greenback compared with 4.4120/4150 yesterday.

He said some traders also took profit, as technically, the local unit had gained sharply recently. He said hentiment for the local currency was weak as expectations of the Federal Reserve to raise US interest rates have been reinforced. However, against other major currencies, the local note traded mostly higher.

It fell against the Singapore dollar to 3.1665/1705 from 3.1632/1660 and increased versus the British pound to 5.4908/4966 from 5.5428/5474 on Tuesday. The ringgit rose against the euro to 4.7659/7716 from 4.7897/7947 and edged up against the yen to 3.9778/9822 from 3.9845/9886. — Bernama

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