Ringgit ends lower against US dollar (Updated)

: The ringgit ended lower against the today on lack of positive leads.

At 6pm, the local currency stood at 4.0890/0940 against the greenback compared with Wednesday’s close of 4.0865/0905.

Bank Islam Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said ’s industrial production index growth of 3.2% in , which is more than the 2.3% estimated earlier, failed to ignite excitement among investors as external data continued to dominate sentiment.

“The latest high frequency indicators from was not forthcoming with the industrial production and retail sales coming in lower during the January-February period to 5.3% and 8.2% from 6.2% and 9.0% in December 2018, respectively.

“Besides, the Brexit date is likely to be delayed as there was no substantial vote in support of the proposal.

“In a nutshell, there is no strong catalyst for the ringgit at the moment,‘’ he told Bernama.

Overall, the ringgit was traded lower against other major currencies.

It fell against the dollar to 3.0162/3201 from 3.0134/0168 on Wednesday, the euro eased to 4.6259/6320 from 4.6153/6219 and depreciated against the British pound to 5.4200/4274 from 5.3668/3729 on Wednesday.

The ringgit, however strengthened against the Japanese yen to 3.6594/6648 from 3.6706/6752 yesterday. — Bernama

Source: The Sun Daily

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