Ringgit ends easier against US dollar for second straight day

01 Dec 2020 / 19:32 H.

KUALA LUMPUR: The ringgit continued to end lower against the US dollar today for the second straight day on lack of buying due to the resurgence of Covid-19 cases.

“I think the ringgit is getting held back by a combination of oil price uncertainty and expectation of regional lagging domestic economic data in December due to the resurgence of Covid-19 in key economic spots across the country,” Axi chief global market strategist Stephen Innes told Bernama.

At 6 pm, the local note was traded at 4.0760/0800 against the greenback compared with Monday’s close of 4.0730/0750.

At the time of writing, benchmark Brent crude oil price rose 0.25 per cent to US$48 per barrel.

Back home, the ringgit was traded mixed against other major currencies.

It strengthened against the Singapore dollar to 3.0388/0430 from 3.0455/0486 at the close on Tuesday and went up against the yen to 3.9080/9129 from 3.9148/9171 yesterday.

Vis-a-vis the pound, the ringgit weakened to 5.4427/4501 from 5.4277/4308 and depreciated versus the euro to 4.8826/8891 from 4.8807/8843 yesterday. — Bernama

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