Ringgit ends lower versus greenback

KUALA LUMPUR: The ringgit closed lower against the US dollar today on lack of demand for the local currency on the back of negative sentiment following declining oil prices, a dealer said.
At 6 pm, the local unit was quoted at 4.2705/2735 against the greenback from Friday's close of 4.2670/2700.
The dealer said oil prices slipped with Brent crude futures trading at US$51.96 (RM221.55) per barrel, down 19 cents.
"This was due to the increase in the United States drilling activity undercut as the Organisation of the Petroleum Exporting Countries- led push to tighten supply," the dealer said, adding that the currency market was also subdued due to the public holidays in China, the United States and Britain.
Against other major currencies, the ringgit was traded mostly higher, except with the Singapore dollar.
It fell against the Singapore dollar to 3.0858/0891 from 3.0844/0886 on Friday but improved versus the Japanese yen to 3.8345/8386 from 3.8452/8496.
The local unit appreciated against the British pound to 5.4825/4872 from 5.4912/4955 and advanced vis-a-vis the euro to 4.7770/7816 from 4.7859/7897. — Bernama