KUALA LUMPUR, Feb 17 — The ringgit ended lower against the US dollar today, driven by continued profit-taking after recent gains and the cautious outlook on global oil prices, dealers said.
At the close, the local currency fell to 4.0370/0420 against the US dollar from yesterday’s close of 4.0280/0320.
A dealer said that crude oil supply disruption in the US South caused by an Arctic blast was offset by expectations that the Organisation of the Petroleum Exporting Countries Plus (OPEC+) may ease their output curbs after April.
The overnight Brent hit near its 13-month high yesterday, gaining 0.1 per cent to UUS$63.35 a barrel. It was reported that a deep freeze in the US South shut wells and oil refineries in Texas.
The local currency was traded higher against other major currencies today.
It rose against the Singapore dollar to 3.0388/0432 from yesterday’s 3.0432/0467 and went up vis-a-vis the euro to 4.8710/8783 from 4.8948/9009 yesterday.
The ringgit also appreciated against the yen to 3.8092/8154 per 100 yen from 3.8242/8283 on Tuesday and the British pound to 5.6046/6131 from 5.6102/6166 previously. — Bernama
