Ringgit ends lower against US dollar

KUALA LUMPUR: The ringgit ended lower against the US dollar today on better demand for the greenback and on renewed concern of an impending interest rate hike by the Federal Reserve.
At 6pm, the local unit was traded at 4.4560/4600 against the US dollar versus 4.4510/4550 recorded last Friday.
A dealer said sentiment for the local currency was weak as the market expected the Federal Reserve to raise interest rates soon following the strong employment and inflation data released by the super economy.
Meanwhile, higher crude oil prices failed to push the ringgit up as traders were not convinced of its sustainability considering the global supply glut.
As at 4pm, Brent futures was up 23 cents at US$56.04 a barrel while US West Texas Intermediate crude rose 19 cents to US$53.59 a barrel.
Against other currencies, the ringgit was traded mostly higher.
It rose against the Singapore dollar to 3.1411/1444 from 3.1416/1451 and versus the yen, it increased to 3.9385/9431 from 3.9417/9463 on Friday.
Vis-a-vis the euro, the ringgit appreciated to 4.7332/7379 from 4.7372/7428 but weakened against the British to 5.5522/5589 from 5.5273/5336 previously. — Bernama