Ringgit continues downtrend against US dollar

09 Oct 2019 / 20:56 H.

KUALA LUMPUR: The ringgit continued its downtrend against the US dollar at the close today as market traders remained on the sidelines to await developments on the US-China trade talks which begins tomorrow, said a dealer.

At 6pm, the local note stood at 4.1955/1985 against the greenback compared with yesterday’s close of 4.1920/1950.

The dealer said the greenback was steady as investors waited for an outcome from the Sino-US trade talks in Washington, scheduled on Thursday and Friday, although reports said hopes of a trade deal being reached are slim.

The ringgit, however, traded mixed against a basket of other currencies.

It declined against the Singapore dollar to 3.0404/0437 from 3.0381/0407 at Tuesday’s close and depreciated against the euro to 4.6067/6116 from 4.6058/6107.

The local note strengthened against the British pound at 5.1311/1364 from 5.1327/1380 yesterday and appreciated against the yen to 3.9082/9114 from 3.9148/9187. — Bernama

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