Ringgit lower against US dollar, major currencies

A Malaysia Ringgit note is seen in this illustration photo June 1, 2017. — Reuters pic
A Ringgit note is seen in this illustration photo June 1, 2017. — Reuters pic

, July 25 — The ringgit closed lower against the and other major currencies, pending buying power from investors, a dealer said.

At 6pm, the ringgit stood at 4.0580/0630 versus the greenback from 4.0530/0580 recorded on Wednesday.

Investors remained on the sidelines after the meeting of leaders of two superpowers, US President Donald Trump and European Commission President Jean-Claude Juncker.

“They are trying to digest the outcome of the meeting,” the dealer said.



Following the meeting, both leaders agreed to cooperate towards zero tariffs, zero non-tariff barriers and zero subsidies on non-auto industrial goods.

“We foresee the ringgit declining further as a a result of this,” the dealer added.

At close’s today, the local note fell against dollar to 2.9812/9862 from 2.9766/9810 and weakened to 3.6625/6673 from 3.6464/6513 versus the yen.

Vis-a-vis the British pound, the ringgit depreciated to 5.3521/3591 from 5.3337/3407 and was lower at 4.7531/7606 from 4.7428/7503 when compared with the euro. — Bernama

Source: The Malay Mail Online





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