KUALA LUMPUR, Dec 6 — The ringgit ended lower against the US dollar today on lack of buying interest as investors stayed on the sidelines to assess the global economic growth development, said a dealer.

At 6pm, the local note eased to 4.2310/2340 against the greenback from 4.2290/2320 at Friday’s close.

Bank Islam Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the ringgit fluctuated against the US dollar today with the local note appreciating to as high as 4.223 against the US dollar earlier but later in the afternoon session, weakened to around 4.2315.

“This happened despite the US Nonfarm Payroll (NFP) for November coming in lower-than-expected at 210,000 against market expectation of 550,000.

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“The heightened concern over the latest (Covid-19) variant — Omicron, suggests that the downside risks to growth is still high, leading to better demand for safe haven currencies namely the US dollar,” he told Bernama.

Mohd Afzanizam said this was reflected in the rise in the US Dollar Index (DXY) to 96.291, representing 0.81 per cent increase from the previous close.

“As such, the focus is now on Omicron and how it may evolve in respect of possible measures on human mobility restriction,” he added.

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The local note was traded mostly lower vis-a-vis a basket of major currencies.

The ringgit fell against the Singapore dollar to 3.0899/0925 from 3.0844/0870 at Friday’s close, eased versus the Japanese yen to 3.7363/7393 from 3.7316/7346, and went down against the euro to 4.7810/7844 from 4.7771/7805 previously.

It however appreciated against the British pound to 5.6095/6134 from 5.6182/6222 at Friday’s close. — Bernama