Ringgit closes lower against greenback

At 6pm, the local note stood at 4.1100/1130 against the US dollar from 4.1070/1100 at today’s close. — Reuters pic
At 6pm, the local note stood at 4.1100/1130 against the US dollar from 4.1070/1100 at today’s close. — Reuters pic

KUALA LUMPUR, July 16 — The ringgit closed lower against the US dollar today as the greenback strengthened ahead of a possible interest rate cut this month by the US Federal Reserve (Fed), said a dealer.

At 6pm, the local note stood at 4.1100/1130 against the US dollar from 4.1070/1100 at today’s close.

It was reported that the release of the US retail sales data for June and a speech by Fed chief Jerome Powell later today may likely influence the next move for the US dollar.

Meanwhile, the local note was traded mostly higher against other major currencies.

It rose versus the British pound to 5.1161/1211 from 5.1580/1634 yesterday, appreciated against the euro to 4.6155/6205 from 4.6319/6365, and strengthened against the Singapore dollar to 3.0276/0303 from yesterday’s close of 3.0285/03191.

However, the ringgit eased against the yen to 3.8087/8119 from 3.8074/8112. — Bernama