Ringgit ends easier against US dollar

A Malaysia Ringgit note is seen in this illustration photo June 1, 2017. — Reuters pic
A Malaysia Ringgit note is seen in this illustration photo June 1, 2017. — Reuters pic

KUALA LUMPUR, Nov 28 — The ringgit ended easier against the US dollar today following the decline in global crude oil prices, said a dealer.

At 6pm, the ringgit settled at 4.1720/1750 against the greenback compared with yesterday’s close of 4.1700/1740.

A dealer said the benchmark Brent crude trimmed 0.71 per cent to US$62.56 per barrel at the close today, which impacted the valuation of the local note.

He said oil prices had declined today, extending losses from the previous session after official data showed that the United States’ (US) crude and gasoline stocks rose against expectations.

“Crude stockpiles in the US swelled 1.6 million barrels last week as production hit a record high of 12.9 million barrels per day and refinery runs slowed,” he told Bernama, quoting the US Energy Information Administration.

Meanwhile, the ringgit traded lower against other major currencies.

The local currency was lower against the Singapore dollar at 3.0537/0579 from 3.0520/0561 on Wednesday and also declined versus the British pound to 5.3965/4020 from 5.3626/3694 yesterday.

It improved against the yen to 3.8125/8156 from 3.8190/8237 but depreciated against the euro to 4.5942/5992 from 4.5908/5956 previously. — Bernama

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