Ringgit closes marginally easier against dollar

Malaysian ringgit notes.

KUALA LUMPUR: The ringgit closed marginally lower against the US dollar today amid better demand for the greenback, a dealer said.

At 6 pm, the ringgit stood at 4.1550/1600 against the US dollar versus 4.1530/1560 on Monday.

OANDA Head of Trading in Asia-Pacific Stephen Innes said after US equity markets scratched back losses overnight, regional equity markets traded better but cautiously.

“Investors have returned for bargain hunting, aided by short position covering,” he told Bernama.

Innes said the relative calm in today’s Asia session however, may prompt traders to turn sellers than become buyers.

Meanwhile, the ringgit was traded mostly higher against other major currencies.

It rose against the Singapore dollar to 2.9959/9999 from 2.9979/3007 on Monday but fell versus the Japanese yen to 3.6724/6785 from 3.6639/6668.

The local note increased against the euro to 4.7575/7640 from 4.7647/7694 and gained against the British pound to 5.4190/4259 from 5.4242/4302 yesterday.