Ringgit closes lower against US dollar

This photo illustration shows Malaysian ringgit banknotes in Kuala Lumpur on June 29, 2015. — AFP pic
This photo illustration shows Malaysian ringgit banknotes in Kuala Lumpur on June 29, 2015. — AFP pic

KUALA LUMPUR, Aug 15 — The ringgit closed lower against the US dollar today on weaker demand for the local note and against the backdrop of lower global oil prices.

At 6pm, the ringgit finished at 4.1920/1950 against the greenback from 4.1870/1900 yesterday.

A dealer said the global benchmark Brent crude was down two per cent at US$58.28 a barrel due to an unexpected increased in US crude inventories.

“The lower oil price is perceived as negative for Malaysia as it impacts the country’s oil and gas revenue,” he added.

Meanwhile, the ringgit rose against the Singapore dollar to 3.0173/0199 from 3.0192/0224, and improved against the euro to 4.6737/6787 from 4.6802/684 at close yesterday.

The local currency depreciated against the yen to 3.9570/9609 from 3.9359/9398 and edged down against the British pound to 5.0706/0760 from 5.0575/0628. — Bernama

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