Saturday 19 August 2017
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4 months ago

Ringgit ends slightly lower against greenback

KUALA LUMPUR: The ringgit ended slightly lower against the US dollar today, pulled down by expectations of lower crude oil prices and in line with the weaker performance of regional peers.

At 6pm, the local unit was quoted at 4.3980/3000 against the greenback compared with Thursday s close of 4.3960/3000.

A dealer said news reports indicated that the benchmark Brent Crude and US West Texas Intermediate crude oil prices would see a 5.2% and 4.6% weekly drop respectively on Friday, after investors expressed worry over the Organisation of the Petroleum Exporting Countries oil cut effect.

The decline in global crude oil prices will hamper Malaysia s revenue from the oil and gas sector, and therefore, diminish investor interest towards the local note, he added.

He said In addition, geopolitical tensions over North Korea, along with the uncertainty surrounding the French Presidential election and general election in the United Kingdom, had reduced the risk app

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