KUALA LUMPUR, March 21 — The ringgit ended flat against the US dollar today after four days of gains amid subdued performance of the emerging Asian currencies.
At 6pm, the local currency stood at Thursday’s close of 4.0600/0650.
A dealer said the greenback retreated from its overnight gains, heading into a second consecutive weekly dip, thanks to renewed downward pressure on government bond yields.
However, most Asian currencies were subdued as investors took profits from previous session gains.
“The US Federal Reserve affirmed a dovish stance at its policy meeting this week by putting on hold the movement of Federal Funds rate in 2019, which is supportive for emerging market currencies.
“But ringgit was traded largely unchanged today after the data showed that the economy remained in deflation for a second straight month in February due to lower fuel prices,” he added.
The ringgit, however, was traded higher against other major currencies.
It increased against the Japanese yen to 3.6735/6784 from 3.6745/6801 and rose versus the euro to 4.5882/5959 from 4.6304/6374 on Thursday.
The ringgit also appreciated versus Singapore dollar to 3.0047/0096 from 3.0125/0167 and advanced against the the British pound to 5.3178/3260 from 5.3470/3552 yesterday. — Bernama
