KUALA LUMPUR, July 2 — The ringgit remained lower against the US dollar for the second consecutive day due to weak demand for the local currency amid mixed external sentiments.
At 6pm, the local currency stood at 4.1370/1400 versus the US dollar compared with 4.1350/1400 recorded yesterday.
A dealer said interest for the greenback was better on interest rate cut prospect by the US Federal Reserve despite optimism over the US-China trade progress subsided.
Meanwhile, the global oil price rose two per cent after the Organisation of the Petroleum Exporting Countries agreed to extend oil supply cuts until March 2020.
“Although the oil prices improving, which supposed be able to spur ringgit, this still could not offset the mixed US dollar sentiment,” a dealer said.
At the close, the ringgit was mixed against a basket of major currencies.
The local currency rose against the Singapore dollar to 3.0509/0542 from 3.0517/0558 on Monday, strengthened versus the pound to 5.2209/2255 from 5.2279/2359 and increased against the euro to 4.6773/6815 from 4.6816/6890.
However, the ringgit weakened against the Japanese yen to 3.8199/8241 from 3.8181/8234. — Bernama
