KUALA LUMPUR: The ringgit ended lower today on the back of stronger greenback following positive reaction in the US-China trade tension talks.
At 6pm, the ringgit was quoted at 4.1860/1900 against the greenback compared with Friday’s close of 4.1840/1870.
An analyst said that the local sentiment had managed to push the local note in early trade, but external factors led the US dollar to strengthen over a period of time.
“With the current trade talks going well, along with the US decision to shelve new tariffs against Beijing and Beijing would buy between US$40 billion and US$50 billion worth of American agricultural products, the dollar had received a strong push backed by the positive economic outlook,“ she said.
She added the fell of oil benchmark Brent Crude also dragged down the ringgit at the close.
As at 6pm, Brent declined 2.21% to US$59.17.
Against a basket of other currencies, the ringgit was traded mostly lower.
It weakened against the Singapore dollar to 3.0557/0597 from 3.0438/0471 at Friday’s close, slid against the yen at 3.8702/8746 from 3.8691/8729 and declined against the euro to 4.6197/6258 from 4.6103/6153.
Vis-a-vis, the local note was slightly higher versus the British pound to 5.2259/2618 from 5.2292/2346. — Bernama
