A teller counts RM50 notes in George Town November 27, 2019. ― Picture by Sayuti ZainudinKUALA LUMPUR, March 26 — The Malaysian ringgit closed slightly lower against the US dollar today as the stronger greenback curbed risk appetite for emerging currencies amidst weak local market catalysts, dealers said.
At 6pm, the ringgit settled at 4.1445/1485 versus the greenback, compared with 4.1440/1490 yesterday. The safe-haven greenback strengthened as investors were upbeat on the improving economic data coming from the United States and the higher US Treasury yields, coupled with the rollout of Covid-19 vaccines.
“The ringgit declined amidst worries of a resurgence in COVID-19 cases in Europe, which led to the reimposed lockdowns,” Bank Islam Malaysia Bhd economist Adam Mohamed Rahim told Bernama. At press time, the benchmark Brent crude oil rose by two per cent to US$63.19 per barrel.It depreciated against the Singapore dollar to 3.0778/0814 from 3.0769/0813 on Thursday and weakened versus the British pound to 5.7153/7224 from 5.6777/6854 yesterday.
The local unit, however, rose vis-a-vis the Japanese yen to 3.7853/7900 from 3.7994/8050 and increased against the euro to 4.8872/8927 from 4.8936/9012 previously. — Bernama