Ringgit ends lower against USD

Jan 9, 2017
At 6 pm today, the local unit was traded at 4.4750/4790 against the greenback from 4.4710/4740 last Friday.
At 6 pm today, the local unit was traded at 4.4750/4790 against the greenback from 4.4710/4740 last Friday.

The ringgit ended lower against the US dollar today, in line with most other emerging currencies as more investors shifted towards the safe-haven currencies, dealers said.

At 6 pm, the local unit was traded at 4.4750/4790 against the greenback from 4.4710/4740 last Friday.

A dealer said there was growing concerns among investors after the US job data released on Friday showed strong wage gains, strengthening the case for further US interest rate hikes.

The weakening of oil prices due to increased exports from Iran while US drillers increased activity for a 10th straight week, also dampened the ringgit, he said.

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

The local note strengthened against the yen to 3.8222/8262 from 3.8550/8586 Friday and rose against the British pound to 5.4349/4415 from 5.5373/5428 previously.

It appreciated against the Singapore dollar to 3.1044/1078 from 3.1176/1213 on Friday and went up against the euro to 4.7095/7146 from 4.7388/7438 last week. – Bernama 

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