Ringgit ends almost flat on cautious trading

The ringgit traded mostly lower against a basket of major currencies. — Picture by Saw Siow Feng
The ringgit traded mostly lower against a basket of major currencies. — Picture by Saw Siow Feng

KUALA LUMPUR, May 31 — The ringgit traded almost flat against the US dollar at the closed today, as renewed concerned over the global economic outlook triggered some investors to shift interest towards emerging currencies, including the ringgit, a dealer said.

At 6pm, the ringgit stood at 4.1890/1920 against the greenback from 4.1890/1940 at Thursday’s close.

He said that there were new concerns on the top of the current China-US trade dispute, as US President Donald Trump threatened to impose new tariffs on Mexican goods, which risked tipping an already struggling global economy into recession.

The ringgit, meanwhile, traded mostly lower against a basket of major currencies.

It went down against the Singapore dollar to 3.0399/0432 from Thursday’s 3.0368/0409,  and depreciated against the Japanese yen to 3.8512/8544 from 3.8182/8239.

The local unit strengthened vis-a-vis the British pound to 5.2693/2748 from 5.2911/2991, but weakened against the euro to 4.6703/6741 from 4.6674/6738. — Bernama