Ringgit eases marginally against US dollar

The ringgit eased marginally against the US dollar at closing today. — AFP pic
The ringgit eased marginally against the US dollar at closing today. — AFP pic

KUALA LUMPUR, Jan 8 — The ringgit eased marginally against the US dollar at closing today in line with most Asian currencies on greater demand for the greenback following a rally in the US 10-year Treasury yield, dealers said.

At 6pm, the local currency was traded at 4.1160/1200 against the greenback from tomorrow’s close of 4.1120/1160.

A dealer said the firmer US dollar was also supported by positive signals in the ongoing US-China trade talks.

“However, the improvement in oil prices which came from some the Organisation of the Petroleum Exporting Countries (Opec)-led supply cuts, has helped offset some of the losses in the ringgit,” the dealer told Bernama.

The benchmark Brent crude gained 0.98 per cent to US$57.89 (RM234) per barrel as at 4.27 am Central Standard Time.

Meanwhile, the ringgit was mostly lower against other major currencies, except for the Japanese yen.

The local unit fell versus the euro to 4.7128/7190 from 4.7037/7099, depreciated against the Singapore dollar to 3.0287/0328 from 3.0284/0334 and dropped against the British pound to 5.2537/2608 against tomorrow’s 5.2424/2491.

The ringgit rose against the Japanese yen to 3.7803/7843 from 3.8004/8044 yesterday. — Bernama