KUALA LUMPUR, Dec 16 — The ringgit closed slightly lower against the US dollar today on lack of demand for the local currency, dealers said.

At 5pm, the ringgit was quoted at 3.2375/2405 to the US dollar compared to 3.2340/2370 at last Friday’s close.

They said investors were mostly on the sidelines awaiting the outcome of the Federal Open Market Committee meeting this week.

"Any decisions from the meeting will give a clue to investors whether to actively participate in the market or remain on the sidelines," said a dealer.

Meanwhile, the ringgit depreciated against the Singapore dollar to 2.5762/5806 from 2.5753/5797 last Friday and declined against the yen to 3.1389/1431 from 3.1222/1263 previously.

The domestic currency was traded slightly higher against the British pound at 5.2852/2904 from 5.2863/2918 last Friday, but decreased against the euro to 4.4592/4573 from 4.4497/4544 previously. — Bernama