Ringgit extends downtrend against greenback

ringgit-dollarKUALA LUMPUR: The ringgit extended Tuesday’s downtrend against the US dollar to early trade today on subdued risk appetite for it, dealers said.

At 9 am, the ringgit was quoted at 4.1300/1365 to the greenback against 4.1050/0100 on Tuesday.

A dealer said sentiment on the forex and equities markets was clouded by recent remarks by US Federal Reserve officials who diminished hopes of any rise in interest rates this month.

Against a basket of other major currencies, the ringgit traded mixed.

It fell against the Singapore dollar to 3.0208/0260 from 3.0182/0223 on Friday and weakened versus the euro to 4.6330/6420 from 4.6066/6135.

The local note, however, rose against the yen to 4.0179/0254 from 4.0261/0322 and appreciated against the British pound to 5.4380/4486 from 5.4449/4527.