Ringgit closes lower against US dollar

Ringgit notes against US dollar background.

KUALA LUMPUR: The ringgit closed lower against the US dollar for the second consecutive day today on the lack of a positive boost, said a dealer.

At 6pm, the ringgit traded at 4.1620/1670 versus the greenback from Wednesday’s close of 4.1525/1555.

A dealer said market sentiment was weak in most regional currencies amid an inversion of US bond yield, which signalled a possible economic downturn.

“Apart from that, market participants also are looking towards the outcome of the Organisation of the Petroleum Exporting Countries (Opec) meeting in Austria later today,” he said.

The ringgit traded mostly lower against other major currencies.

It was almost flat against the Singapore dollar at 3.0362/0409 against 3.0366/0392 on Wednesday but fell against the yen to 3.6953/6007 from 3.6754/6784.

The domestic unit depreciated against the euro to 4.7197/7262 from 4.7077/7115 and weakened versus the pound to 5.3016/3096 from 5.2832/2891 yesterday.