Ringgit Ends Marginally Lower Vs US Dollar

KUALA LUMPUR, April 20 (Bernama) -- The ringgit ended marginally lower against the US dollar on Monday, remaining in a tight range as markets kept a close watch on developments in West Asia.

At 6 pm, the local note stood at 3.9515/9555 against the greenback, compared with 3.9505/9545 on Friday.

Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the ringgit oscillated between 3.9515 and 3.9583, with geopolitical tensions continuing to dominate sentiment.

The US dollar earlier rose to a one-week high, with the Dollar Index recovering recent losses to 98.47, while the ringgit continued to trade within a narrow band.

“Uncertainties over peace talks between the United States and Iran, as well as the reopening of the Strait of Hormuz, continue to cloud sentiment among traders and investors. WTI and Brent crude prices were up 7.10 per cent and 6.02 per cent, at US$89.80 and US$95.82 per barrel respectively,” he told Bernama.

At the close, the ringgit traded mostly higher against a basket of major currencies.

It strengthened against the British pound to 5.3412/3466 from 5.3454/3508 at Friday’s close, rose against the euro to 4.6489/6536 from 4.6588/6635, but eased versus the Japanese yen to 2.4863/4890 from 2.4838/4865.

The local currency traded mostly lower against regional peers.

It slipped against the Singapore dollar to 3.1077/1111 from 3.1053/1086, and edged down against the Indonesian rupiah to 230.1/230.5 from 229.8/230.1.

The ringgit was little changed against the Thai baht at 12.3127/3313 versus 12.3084/3274, and was steady against the Philippine peso at 6.58/6.60 compared with 6.58/6.59 previously.  

-- BERNAMA