KUALA LUMPUR: The ringgit closed lower against the US dollar for the second consecutive day due to weak buying support, a dealer said.
At 6pm, the ringgit stood at 4.1800/1840 versus the greenback from Monday’s close of 4.1780/1820.
The dealer said concerns over external economic conditions coupled with weaker crude oil prices also resulted in a softer ringgit versus the greenback.
At press time, the benchmark Brent crude oil futures was 0.78 per cent lower at US$76.77 a barrel while the US West Texas Intermediate crude oil futures was 0.75 per cent easier at US$66.54 a barrel.
“Back home, investors are also looking forward to Friday’s 2019 Budget announcement,” the dealer said.
The local unit, however, traded higher against other major currencies.
The ringgit rose against the Singapore dollar to 3.0194/0236 from 3.0218/0258 on Monday, vis-a-vis the euro, it appreciated to 4.7497/7560 from 4.7537/7600 previously.
It increased against the British pound to 5.3349/3417 from 5.3562/3630 on Monday and improved against the Japanese yen to 3.7050/7095 from 3.7247/7286 yesterday.