Ringgit closes lower against US dollar

21 May 2019 / 18:42 H.

KUALA LUMPUR: The ringgit closed lower against the US dollar today in line with the weaker regional currencies and weighed on by continuous uncertainties surrounding the US-China trade talks, a dealer said.

At 6pm, the ringgit was lower at 4.1845/1875 against the greenback compared with 4.1750/1780 at last Friday’s close.

The dealer said the regional markets are set to remain volatile so long US President Donald Trump, maintains his stance against China and the rest of the world.

“Nevertheless, escalating trade tensions between the US and China continues to weigh on markets,” he added.

Trading is likely to remain quiet for the holiday shortened week. The forex market was closed on Monday for Wesak and again on Wednesday for the Nuzul Al-Quran public holiday. It will resume trading on Thursday.

The ringgit, meanwhile, traded mostly lower against a basket of major currencies.

It traded easier against the Singapore dollar at 3.0355/0386 from Friday’s 3.0339/0372 and depreciated against the Japanese yen to 3.7972/8006 from 3.7924/7961.

The local unit strengthened vis-a-vis the British pound to 5.3118/3165 from 5.3219/3274, but slid against the euro to 4.6653/6699 from 4.6576/6622. - Bernama

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