KUALA LUMPUR, March 7 — The ringgit closed marginally lower against the US dollar today on better buying support for the greenback as a safe-haven currency amid crisis.
At 6pm, the local note was traded at 4.1765/1805 versus the greenback compared with 4.1760/1795 at last Friday’s close.
News report said the continued rally in the US dollar remained well underpinned by the worsening conditions in the Russia-Ukraine military conflict.
“The move higher in the US dollar so far comes in tandem with a tepid rebound in US yields following the recent weakness and the sharp flattening, which was in turn motivated by the solid buying interest seen in bonds,” according to fxstreet.com.
Meanwhile, the ringgit was traded mostly higher against a basket of other major currencies.
It gained versus the Singapore dollar to 3.0606/0638 from Friday’s 3.0715/0745 but eased against the yen to 3.6295/6333 from 3.6178/6211.
The local currency perked vis-a-vis the British pound at 5.5005/5057 from 5.5558/5604 and improved versus the euro to 4.5344/5388 from 4.5994/6033 previously. — Bernama
