KUALA LUMPUR, Jan 29 — The ringgit was traded marginally lower against the US dollar in late trading today on lack of demand for the local currency in the absence of positive market moving cues, dealers said.
At 5pm, the ringgit was quoted at 3.3350/3380 versus the greenback against yesterday’s close of 3.3335/3365.
One of the dealers said investors were reluctant to participate actively in the market as they eagerly await the outcome of the US Federal Reserve policy meeting later in the day.
He said investors were also closely monitoring Bank Negara Malaysia’s Monetary Policy Meeting, which will release a statement after 6pm local time today, with the expectation that the central bank would maintain the overnight policy rate at 3.00 per cent.
Against other major currencies, the ringgit was traded mostly higher.
The local unit appreciated against the Singapore dollar to 2.6158/6183 from 2.6186/6218 yesterday and rose against the yen to 3.2295/2327 from 3.2386/2425 previously.
The ringgit, however, depreciated against the British pound to 5.5371/5424 from 5.5346/5406 yesterday and fell against the euro to 4.5616/5661 from 4.5542/5590 previously. — Bernama
