Ringgit loses almost unchanged against US dollar

Malaysian ringgit notes against US dollar background

KUALA LUMPUR: The ringgit closed almost unchanged against the US dollar today on marginal demand, thanks to the improvement in oil prices, dealers said.

At 6 pm, the ringgit was slightly higher versus the greenback at 4.1440/1490 against 4.1450/1490 recorded at Thursday’s closing.

Benchmark Brent crude was trading at above US$84 per barrel today.

OANDA Head of Trading in Asia-Pacific Stephen Innes said on the external front, the US nonfarm payroll (NFP) data due out later today would provide clues on whether the US Federal Reserve would turn more hawkish.

“The NFP data will determine the near-term outlook for the US dollar. If the data is stronger, this may put negative pressure on the ringgit,” he told Bernama.

Meanwhile, the ringgit was traded mixed against other major currencies.

It rose against the Singapore dollar to 2.9975/3.0022 from 3.0023/0059 on Thursday but slid versus the Japanese yen to 3.6383/6443 from yesterday’s 3.6252/6296.

The local note slightly increased against the euro to 4.7639/7714 from 4.7647/7705 on Thursday but fell against the British pound to 5.4017/4091 from 5.3802/3871 yesterday.