Ringgit closes sharply lower against greenback

At 6pm, the ringgit was pegged at 4.0570/0610 versus the greenback from yesterday’s close of 4.0445/0485. — Reuters pic
At 6pm, the ringgit was pegged at 4.0570/0610 versus the greenback from yesterday’s close of 4.0445/0485. — Reuters pic

, July 18 — The ringgit ended sharply lower against the today in line with most regional currencies amid US Federal Reserve Chairman Jerome Powell’s comments on the strengthening US economy, which points to more interest this year, said a dealer.

At 6pm, the ringgit was pegged at 4.0570/0610 versus the greenback from yesterday’s close of 4.0445/0485. 

The dealer said the ringgit was also affected by declining oil prices.

International benchmark crude was easier by 55 cents at US$71.61 a barrel. 



Meanwhile, the local unit was traded higher against a basket of major currencies.

It appreciated against the dollar to 2.9656/9690 from 2.9737/9768 yesterday, and strengthened against the euro to 4.7155/7217 versus 4.7438/7489 yesterday.

The ringgit increased against the British pound to 5.2863/2931 from yesterday’s 5.3610/3667, and went up against the yen to 3.5909/5957 from 3.5986/6025. — Bernama

Source: The Malay Mail Online





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