KUALA LUMPUR, March 28 — The ringgit ended lower against the US dollar today as investors’ risk appetite reduced, hence translated in weaker demand for the local note.
At 6pm, the local currency declined to 4.2155/2175 versus the US dollar from 4.2080/2110 at Friday’s close.
SPI Asset Management managing partner Stephen Innes said the local currency was under pressure as the recent lockdown imposed in Shanghai dampened market sentiment for Asian currencies, particularly as Malaysia is scheduled to reopen its borders starting April 1.
“It is related to travelling and tourism,” he said.
Meanwhile, the ringgit was traded mostly higher against a basket of major currencies.
The local unit rose against the British pound to 5.5362/5388 from 5.5394/5434 on Friday but slipped versus the euro to 4.6316/6338 from 4.6305/6338 last Friday.
The ringgit appreciated vis-a-vis the yen to 3.3982/4001 from last Friday’s 3.4608/4633 and improved against the Singapore dollar to 3.0996/1016 from 3.1021/1045 previously. — Bernama
