KUALA LUMPUR, March 1 — The ringgit ended lower against the US dollar on the first trading day of March amid mixed sentiment in the market, a dealer said.
At 6pm, the ringgit declined to 4.0550/0580 against the US dollar from Friday’s close of 4.0450/0443.
Axi chief global markets strategist Stephen Innes said the sentiment in the market has led commodity currencies to shift higher as oil prices rebound on the back of lower US yields, vaccine optimism and the US fiscal stimulus package passing the House of Representatives.
However, another analyst said the Opec+ meeting on March 4 has imposed pressure on commodity currencies.
Meanwhile, the ringgit was traded mixed against other major currencies.
It rose slightly against the Singapore dollar to 3.0441/0470 from 3.0443/0490 at the close on Friday and increased against the euro to 4.8810/8858 from 4.9054/9127 last Friday.
The local currency, however, depreciated vis-a-vis the Japanese yen to 3.7993/7025 from 3.7985/8035 previously and fell versus the British pound to 5.6547/6601 from 5.6395/6473 previously. — Bernama
