Ringgit ends lower on selling from leveraged funds

KUALA LUMPUR, June 18 — The ringgit closed lower against the US dollar today on weaker demand for the local note due to selling from leveraged funds.

At 5pm, the ringgit was quoted at 3.2325/2345 against the greenback compared with 3.2205/2225 yesterday. A dealer said the ringgit could perform better tomorrow in anticipation of lower May inflation rate of 3.3 per cent compared with 3.4 per cent in April.

He said investors would continue to monitor developments in the local economy, including the official release of the inflation rate data, due on Friday.

The ringgit depreciated against the Singapore dollar to 2.5778/5812 from 2.5723/5743 yesterday and fell against the yen to 3.1614/1639 from 3.1564/1587.

It also decreased against the British pound to 5.4771/4809 from 5.4591/4647. and weakened against the euro to 4.3813/3844 from 4.3715/3752. — Bernama

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