Ringgit ends lower on profit-taking

KUALA LUMPUR, Jan 29 — The ringgit retreated against the US dollar to close slightly lower today on profit-taking, dealers said.

At 6pm, the local note ended at 3.8790/8840 against the greenback from 3.8690/8720 on Thursday.

A dealer said the ringgit fundamentals, however, remained solid on the back of strong oil prices, positive regional risk sentiment and potential further hike by Bank Negara Malaysia.

The ringgit was mixed against a basket of major currencies.

It fell against the Singapore dollar to 2.9617/9667 from Friday's 2.9607/9648 and weakened versus the yen to 3.5656/5708 from 3.5456/5490 yesterday.

It went up against the euro to 4.8138/8216 from 4.8185/8234 yesterday and gained against the British pound to 5.4721/4799 from 5.5160/5222 on Friday. — Bernama

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