Ringgit Ends Marginally Lower Against Greenback

By Durratul Ain Ahmad Fuad

KUALA LUMPUR, Dec 26 (Bernama) -- The ringgit ended marginally lower against the US dollar today but was said to maintain its momentum as it attempted to breach the 4.03 level during the morning session.

At 6 pm, the local currency edged down to 4.0470/0535 versus the greenback from 4.0425/0515 at Wednesday’s close.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the ringgit versus the US dollar went up to as high as 4.0318 during the morning session but later weakened to 4.0470 towards closing.

“It appears that ringgit continues to remain firm as it attempts to breach the RM4.03 level,” he told Bernama.

At today’s close, the ringgit traded higher against a basket of major currencies.

It appreciated against the euro to 4.7629/7706 from 4.7697/7804 at Wednesday’s close, rose against the British pound to 5.4570/4657 from 5.4647/4768, and edged up against the Japanese yen to 2.5866/5909 from 2.5940/5999.

The local currency traded mixed against ASEAN peers.

It strengthened versus the Thai baht to 13.0212/0484 from 13.0277/0639 previously, advanced against the Singapore dollar to 3.1497/1550 from 3.1506/1578, but weakened against the Indonesian rupiah to 241.6/242.2 from 241.0/241.8, and was down against the Philippine peso to 6.89/6.90 from 6.88/6.90.

-- BERNAMA