Thursday, August 20, 2009

Ringgit Closes Lower Against Greenback

-- The ringgit closed lower against the US dollar Wednesday in tandem with the easier Bursa Malaysia with the FTSE Bursa Malaysia KLCI ended 8.88 points lower to 1,155.53, dealers said.At 5pm, the ringgit declined to 3.5450/5490 against the greenback from 3.5370/5400 yesterday.A dealer said the weak ringgit was due to a rebound in US dollar, adding that the greenback was still well-supported."The weak ringgit could have triggered some exporters to unload the dollar. With the uncertainty over the global economy recovery, investors preferred the dollar," he said.Against other major currencies, the ringgit was traded mostly lower.It declined against the Singapore dollar to 2.4398/4449 from 2.4370/4414 on Tuesday and eased against the yen to 3.7581/7643 from 3.7146/7185 yesterday.The ringgit was also lower against the euro at 4.9974/9041 from 4.9967/9027 previously.It, however, rose against the British pound to 5.8085/8157 from 5.8159/8219 previously.-- BERNAMA
We provide (subscription-based) news coverage in our Newswire service.

Back Top

No comments:

Post a Comment