Ringgit snaps 4-day gain to end the week lower

Ringgit snaps 4-day gain to end the week lower FMTNews FMTBusiness

KUALA LUMPUR: The ringgit retreated from four consecutive days of gains to close lower against the US dollar today.

At 6pm, the local note fell to 4.4250/4.4305 versus the greenback compared with yesterday’s closing rate of 4.4160/4.4200. “On a similar note, the core CPI has also been lingering at 3.9% for two months in a row. Nonetheless, the inflation rate is still on the high side compared with the average since 2006 of 2.2%,” he told Bernama.

The local note rose vis-a-vis the euro to 4.7476/4.7535 from 4.8055/4.8098 at yesterday’s close and appreciated against the British pound to 5.4034/5.4101 from 5.4379/5.4428 previously.At the same time, the ringgit was traded mostly lower against Asean currencies.

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