KUALA LUMPUR: The ringgit closed lower against the US dollar today, weighed down by weak oil prices, dealer said.
At 6pm, the local note traded at 4.1770/1810 against the US dollar compared with Tuesday’s 4.1750/1800.
A dealer said the ringgit failed to take advantage of the sluggish greenback after oil prices slumped more than 4% on Tuesday, its biggest one-day fall for years.
Fears of a crude oil supply glut, amid slackening demand, the extension of a sell-off that took major crude benchmarks down more than 30% from an October peak were hanging over currency markets.
The ringgit was also weaker against major currencies.
It eased against the Singapore dollar to 3.0498/0543 from 3.0439/0486 on Tuesday and fell against the Japanese yen to 3.7172/7217 from 3.7141/7192.
The local unit weakened against the British pound to 5.2852/2915 from yesterday’s 5.2810/2890 and depreciated against the euro to 4.7568/7622 from 4.7491/7564. — Bernama
