KUALA LUMPUR, Dec 23 — The ringgit has extended its downtrend for the third consecutive day, closing lower against the US dollar today as demand for the greenback remained firm, a dealer said.
At 6pm, the ringgit slipped to 4.0610/0650 versus the greenback compared with yesterday’s close of 4.0590/0630.
Axi chief global market strategist Stephen Innes said the local note has not been closely anchored to the oil price sentiment today.
“However, if global oil prices continue to recover, or at least does not fall much further, the ringgit will ease into the year-end finishing line on a positive note,” he told Bernama.
At the press time, Brent crude oil price rose 0.06 per cent to US$50.11 per barrel.
The ringgit was also traded mostly lower against other major currencies.
It fell against the Singapore dollar to 3.0463/0497 from 3.0370/0412 yesterday, depreciated against the British pound to 5.4490/4556 from 5.4427/4497 previously and eased against the Japanese yen to 3.9256/9298 from 3.9252/9298 on Tuesday.
However, it rose against the euro to 4.9516/9573 from yesterday’s close of 4.9540/9605. — Bernama
