Ringgit ends easier against greenback

KUALA LUMPUR: The ringgit was lower against the US dollar at close as the greenback was lifted following the US Federal Reserve's (Fed) decision to unwind its historic-making economic stimulus in October, dealers said.
At 6pm, the local unit was quoted at 4.1960/1000 against the US dollar from 4.1860/1890 on Wednesday.
A dealer said investors, who remained cautious and stayed on the sidelines for the past two days, had emerged to support the US dollar after the Fed announced that it will begin to roll off its US$4.5 trillion balance sheet next month and keep interest rate at the current one per cent.
"However, the Federal Open Market Committee members, at the recent two-day meeting, acknowledged that the US economy has improved and indicated another rate hike this year," he said.
Against other major currencies, however, the ringgit was traded higher.
Against the Singapore dollar, it rose to 3.1052/1090 from 3.1144/1177 yesterday and strengthened to 3.7308/7353 from 3.7597/7630 versus the yen.
Vis-a-vis the British pound, the local note increased to 5.6617/6679 from 5.6712/6769 and appreciated to 4.9987/9039 from 5.0278/0331 against the euro. — Bernama