Money
Ringgit closes lower against US dollar
Malaysian ringgit bank notes of different denominations are seen in this picture illustration taken in Kuala Lumpur August 21, 2013. u00e2u20acu201c Reuters pic

KUALA LUMPUR, Nov 13 — The ringgit closed lower against the US dollar for the third consecutive day today as investors shunned emerging currencies, including the ringgit, to take refuge in the safe haven greenback, dealers said.

At close, the local currency eased against the greenback to 3.2100/2130 from 3.2090/2110 yesterday.

A dealer said that there was lingering market talk that the US Federal Reserve (Fed) was on course to start reducing its stimulus as early as December.

He said attention was now on comments that nominee Fed chairperson Janet Yellen would make at her Senate confirmation hearing tomorrow.

The ringgit traded mostly lower against other major currencies today.

The local note depreciated against the Singapore dollar to 2.5688/5716 from 2.5674/5709 and declined against the yen to 3.2255/2301 from 3.2199/2232 yesterday.

Against the British pound, the ringgit advanced to 5.0997/0051 from 5.1168/1212, but slid to 4.3120/3167 from 4.2946/2979 against the euro. — Bernama

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