KUALA LUMPUR: The ringgit closed lower against the US dollar today as the greenback strengthened following upbeat US payroll for November which indicates a stronger US economy.
As at 6pm, the local note was quoted at 4.1630/1660 compared with yesterday’s close of 4.1590/1630.
A dealer after the US Federal Reserve made the decision to cut rates three times this year to guard the local economy from global economic slowdown, investors were expecting the central bank to keep the rates this time round.
“With oil price remaining on an upbeat momentum, coupled with positive sentiment surrounding the US-China trade negotiations, the dollar is expected to continue strengthening in the coming days,“ he said.
Meanwhile, the ringgit was traded lower against other major currencies.
The local currency depreciated against the Singapore dollar to 3.0610/0637 from 3.0581/0615 on Monday, weakened versus the Japanese yen to 3.8330/8368 from 3.8328/8372 yesterday, and slipped against the British pound to 5.4768/4816 from 5.4703/4773 previously.
The ringgit was lower against the euro at 4.6105/6155 from yesterday’s close of 4.6015/6076. - Bernama
