KUALA LUMPUR, June 15 – The ringgit closed slightly lower against the US dollar today for lack of a catalyst, despite rising crude oil prices.
At 6pm, the local note eased to 4.1160 / 1185 against the greenback at 4.1130 / 1150 at yesterday’s close.
Analysts said sentiment for the ringgit remained low following recent news from the Statistics Department which reported that April 2021 saw Malaysia’s inflation rise 4.7% from April 2020 – the largest year-over-year increase since 2018.
Meanwhile, the decline in the ringgit has been limited by the easing of the US dollar, however, as markets also awaited the US Federal Open Market Committee (FOMC) monetary policy decision tomorrow, which is expected to give direction to the US dollar. interest rate and the US dollar.
“As the US dollar is the most traded currency in the world, any major decision is likely to impact other economies, stocks and currencies,” ActivTrades trader Dyogenes Rodrigues Diniz said.
At the time of this writing, benchmark Brent crude was 0.48% higher at US $ 73.21 per barrel.
At the close, the ringgit traded for a basket of major currencies.
It strengthened against the yen at 3.7364 / 7390 from 3.7500 / 7522 at yesterday’s close and improved slightly against the British pound at 5.7933 / 7968 against 5.7952 / 7980.
Against the euro, the local currency fell slightly to 4.9898 / 9929 from 4.9817 / 9841 yesterday and fell against the Singapore dollar to 3.1024 / 1046 from 3.0997 / 1014 previously. – Bernama