KUALA LUMPUR, July 15 — The ringgit ended lower against the US dollar for the fourth consecutive day, as sentiment was weighed by the stronger greenback amid a lack of domestic catalyst to lift the local currency, traders said.
At 6pm, local note eased by 20 basis points to 4.2020/2030 versus the greenback from yesterday’s close of 4.2000/2030.
A trader said local sentiment was also weighed down by the Health Ministry report today that the country had set a new daily record of 13,215 infections, bringing the cumulative number of cases to 880,782.
“The local Covid-19 case count is always an immediate concern as it would limit a lot of near growth prospects and slow down the economic recovery.
“The decline of the ringgit was also in line with the easier prices of oil, which continued to see depressed demand as Covid-19 cases spiked globally,” he added.
At the time of writing, benchmark Brent crude oil fell 0.92 per cent to US$74.07 per barrel.
The local note also traded lower against a basket of major currencies.
It fell against the Singapore dollar to 3.1052/1062 from yesterday’s close of 3.0973/0998 and depreciated vis-a-vis the euro to 4.9764/9776 from 4.9539/9574.
The ringgit decreased against the Japanese yen to 3.8256/8265 from 3.8012/8043 and slipped against the British pound to 5.8252/8266 from 5.8157/8199 previously. — Bernama
