Ringgit ends flat against US dollar

A money changer counts Malaysian ringgit bank notes while customers wait at a foreign exchange booth in downtown Kuala Lumpur. — AFP pic
A money changer counts Malaysian ringgit bank notes while customers wait at a foreign exchange booth in downtown Kuala Lumpur. — AFP pic

KUALA LUMPUR, June 14 — The ringgit traded almost flat against the US dollar at the close today on lack of fresh leads, as currency traders were on the sidelines waiting for the US Federal Reserve’s upcoming policy decision on interest rates, said a dealer.

At 6pm, the local currency stood at 4.1650/1690 against its US counterpart compared with 4.1650/1680 yesterday.

He said the ringgit could be affected by weakening oil prices on fears over trade disputes, which had also reduced the demand for the commodity.

At press time, the benchmark Brent crude futures were down 0.44 per cent to US$61.04 a barrel, while the US West Texas Intermediate crude futures fell 0.61 per cent to US$51.96 a barrel.

At the close, the ringgit traded mostly higher against a basket of major currencies.

It appreciated against the Singapore dollar to 3.0457/0491 from 3.0477/0504 from Thursday’s close, was higher at 5.2691/2759 from 5.2766/2825 against the pound and improved versus the euro to 4.6940/6989 from 4.7006/7061.

The local currency, however, depreciated against the yen at 3.8490/8534 from 3.8401/8440. — Bernama

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