Ringgit closes unchanged against US dollar

KUALA LUMPUR: The ringgit closed unchanged against the US dollar today on lack of catalysts, a dealer said.
At 6 pm, the local unit stood at 4.2770/2800 against the greenback, similar to Thursday's close of 4.2770/2800.
Inter-Pacific Securities Head of Research, Pong Teng Siew, said the ringgit showed signs of effects from the measures taken by Bank Negara Malaysia last year to stabilise the local unit against the greenback.
"It managed to reduce the volatility of the ringgit against the US dollar but the ringgit is locked with the trend of US dollar against other currencies. If the US dollar weakened against other currencies, the ringgit is also weakened," he told Bernama.
The ringgit was closed mostly lower against a basket of major currencies.
It fell against the Singapore dollar to 3.1534/1570 from 3.1451/1480 on Thursday and versus the yen,  depreciated to 3.8857/8895 from 3.8667/8698 yesterday.
It strengthened against the British pound to 5.6264/6312 from 5.6606/6659 yesterday but eased against the euro to 5.0811/0864 from 5.0657/0705 previously. — Bernama