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Ringgit continues downtrend against US dollar

26 Jan 2021 / 19:00 H.

KUALA LUMPUR: The ringgit remained lower against the US dollar today as investors sought more greenback as safe-haven currency amid rising Covid-19 cases globally and jitters around the United States US$D1.9 trillion fiscal stimulus, dealers said.

At the close, the local note contracted to 4.0470/0500 against the greenback from 4.0430/0460 on Monday.

A dealer also said sentiment in the local market was vulnerable, with the lockdown clouding investors’ risk appetite as they remain cautious ahead of the US Federal Reserve’s policy review later in the week.

Meanwhile, the ringgit was traded mixed against other major currencies.

It closed lower against the Singapore dollar to 3.0477/0511 from 3.0456/0485 on Monday and weakened versus the Japanese yen to 3.8988/8025 from 3.8946/8986 previously.

The local currency, however, rose against the the British pound to 5.5270/5327 from Monday’s 5.5272/5329 and strengthened vis-a-vis the Euro to 4.9078/9131 from 4.9106/9159 previously. — Bernama

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