Ringgit remains lower against US dollar

KUALA LUMPUR: The ringgit remained lower versus the US dollar today on lack of demand for the local note, a dealer said.

At 9am, the ringgit traded at 4.1440/1470 versus the US dollar from Tuesday’s close of 4.1370/1420.

The greenback continued to rise with the US economy continuing to exhibit strength amid rising concerns about the stresses enveloping some emerging markets, he said.

On the local front, the ringgit was trading on a choppy mode as traders keenly awaited the outcome of today’s meeting of the Monetary Policy Committee (MPC), scheduled to be disclosed at 3pm.

“We anticipate that the central bank will keep the benchmark interest rate unchanged,” he added.

The ringgit traded mostly lower against a basket of other currencies.

It fell versus the Singapore dollar to 3.0092/0140 from 3.0050/1100 yesterday, slipped further against the euro to 4.8004/8055 from 4.7803/7877 and eased against the pound to 5.3267/3310 from 5.3016/3100.

However, the local note was slightly higher against the yen at 3.7119/7156 from 3.7136/7191.