Ringgit closes lower against greenback

February 9, 2018 | By | Reply More

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KUALA LUMPUR: The ringgit fell extended its losses against the US dollar today as more investors shifted towards the ‘safe haven’ currencies due to growing concerns over the global economic volatility, dealers said.

At 6 pm, the local note ended at 3.9370/9410 against the greenback, from 3.9245/9275 on Thursday.

A dealer said the US dollar was slightly lower against several currencies despite the approval from US Senate on a budget deal including stopgap government funding bill, as the move was too late to prevent a federal shutdown that was already under way.

“Most investors decided to close their existing positions rather than make new bets as they look to reduce risk exposure during the pick up in volatility,” he said.

The ringgit also closed mostly lower against a basket of major currencies.

It went down against the Singapore dollar to 2.9604/9643 from 2.9496/9523 yesterday and weakened versus the yen to 3.6096/6143 from 3.5759/5789 previously and was slightly lower against the British pound to 5.4795/4859 from 5.4394/4439. — Bernama

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