Ringgit closes lower against US dollar

US-China trade tensions continue to weigh on Asian bourses and cause Asian currencies to trade within a tight range. — AFP pic
US-China trade tensions continue to weigh on Asian bourses and cause Asian currencies to trade within a tight range. — AFP pic

KUALA LUMPUR, April 4 — The ringgit extended its yesterday’s losses to close lower against the US dollar today on weak buying interests with traders cautious amid lingering concerns over US-China trade dispute, dealers said.

At 6pm, the local note was quoted at 3.8680/8710 against yesterday’s close of 3.8640/8680.

The dealer said the trade tensions would continue to weigh on Asian bourses and cause Asian currencies to trade within a tight range.

China's Finance Ministry recently said China has slapped extra tariffs of up to 25 per cent on 128 US products, including frozen pork, as well as on wine and certain fruits and nuts, in response to US duties on imports of aluminium and steel.

However, the local unit was traded mostly higher against a basket of major currencies, except for the yen.

It rose against the Singapore dollar to 2.9417/9446 from 2.9498/9538 yesterday, appreciated against the pound to 5.4342/4399 from 5.4355/4427 and increased against the euro to 4.7484/7532 from 4.7550/7615, previously.

Against the yen, the ringgit was lower to 3.6429/6464 from 3.6381/6422 yesterday. — Bernama

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