Ringgit closes lower against US dollar

KUALA LUMPUR: The ringgit closed lower against the US dollar for the second consecutive day today as the market awaited the US Federal Reserve (Fed) rate decision for clues, a dealer said.
At 6pm, the ringgit was traded at 4.4440/4480 against the US dollar from 4.4340/4390 yesterday.
He said the interest rate decision would be announced later tonight.
"What investors are expecting from the Fed meeting on Wednesday is for officials to raise interest rates by a quarter percentage point to between 0.50% and 0.75%," he said.
Against a basket of major currencies, the ringgit traded mostly lower.
Vis-a-vis the Singapore dollar, the ringgit fell to 3.1190/1223 from 3.1072/1125 and versus the yen, it decreased to 3.8580/8618 from 3.8470/8516 on Tuesday.
Against the British pound, the local currency appreciated to 5.6239/6307 from 5.6361/6437, while against the euro it depreciated to 4.7218/7269 from 4.7085/7142. — Bernama