Ringgit closes lower versus US dollar

KUALA LUMPUR: The ringgit closed lower against a stronger US dollar today amid discouraging global oil prices, said dealers.

At 6pm, the local note was quoted at 3.9020/9060 versus the greenback from 3.8890/8920 on Monday.

Oil markets were mixed today as US crude was pushed up by reduced flows from Canada, while Brent crude prices eased on the back of a dip in Asian stocks and a stronger dollar, a dealer told Bernama.

Meanwhile, the benchmark Brent crude oil was traded 0.69% lower at US$65.22 per barrel.

"There was also slowing demand owing to the absence of China's foreign exchange market players throughout the Chinese New Year celebration break," he said.

The ringgit was mostly higher against a basket of major currencies.

It rose against the Singapore dollar to 2.9574/9616 from Monday's 2.9619/9660 and appreciated against the yen to 3.6399/6447 from 3.6472/6510.

The local unit eased against the British pound to 5.4632/4707 from 5.4508/4554 on Monday but garnered against the euro to 4.8158/8223 from 4.8259/8311. — Bernama