Ringgit ends lower against stronger greenback

The ringgit ended lower today on the back of stronger greenback following positive reaction in the US-China trade tension talks. — AFP pic
The ringgit ended lower today on the back of stronger greenback following positive reaction in the US-China trade tension talks. — AFP pic

KUALA LUMPUR, Oct 14 — The ringgit ended lower today on the back of stronger greenback following positive reaction in the US-China trade tension talks.

At 6pm, the ringgit was quoted at 4.1860/1900 against the greenback compared with Friday’s close of 4.1840/1870.

An analyst said that the local sentiment had managed to push the local note in early trade, but external factors led the US dollar to strengthen over a period of time.

“With the current trade talks going well, along with the US decision to shelve new tariffs against Beijing and Beijing would buy between US$40 billion (RM167.3 billion) and US$50 billion worth of American agricultural products, the dollar had received a strong push backed by the positive economic outlook,” she said.

She added the fell of oil benchmark Brent Crude also dragged down the ringgit at the close.

As at 6 pm, Brent declined 2.21 per cent to US$59.17.

Against a basket of other currencies, the ringgit was traded mostly lower.

It weakened against the Singapore dollar to 3.0557/0597 from 3.0438/0471 at Friday’s close, slid against the yen at 3.8702/8746 from 3.8691/8729 and declined against the euro to 4.6197/6258 from 4.6103/6153.

Vis-a-vis, the local note was slightly higher versus the British pound to 5.2259/2618 from 5.2292/2346. — Bernama

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