KUALA LUMPUR, April 7 — The ringgit closed almost flat against the US dollar today as investors remained cautious amid the ongoing conflict in West Asia.
At 6 pm, the local note was almost flat against the greenback, being slightly lower at 4.0275/0320 compared with 4.0245/0320 at yesterday’s close.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the ringgit traded within a narrow range against the US dollar as traders monitor the latest developments.
He said United States President Donald Trump’s ultimatum on Iran to reopen the Strait of Hormuz was the main focus among traders.
“Brent crude prices rose to as high as US$111 per barrel before easing to around US$109 per barrel, reflecting a cautious trading environment throughout the day,” he told Bernama.
At the close, the ringgit traded mostly lower against a basket of major currencies.
It slid against the euro to 4.6566/6618 from 4.6483/6570 and fell against the British pound to 5.3425/3484 compared with 5.3305/3404 from yesterday’s close.
Meanwhile, the ringgit edged up against the Japanese yen to 2.5229/5258 from 2.5241/5290.
At the same time, the local currency traded mostly higher against ASEAN currencies.
It was higher versus the Thai baht to 12.3809/4021 from 12.3831/4138, rose against the Philippine peso to 6.68/6.69 from 6.70/6.72, and appreciated against the Indonesian rupiah to 235.4/235.8 from 236.2/236.8. The ringgit was marginally lower against the Singapore dollar, falling to 3.1381/1419 from 3.1346/1407 previously. — Bernama
