Ringgit ends lower as demand for dollar surges
KUALA LUMPUR, March 4 — The ringgit closed easier as demand for the dollar increased on optimistic US-China trade deal news, dealers said.
At 6pm, the ringgit fell to 4.0740/0770 against the greenback compared with Friday’s close of 4.0720/0770. Oanda senior market analyst Jeffrey Halley said the Wall Street Journal reported the US and China are close to a final trade deal.Another dealer said the stronger oil price cushioned the receding demand for the local note.
Benchmark Brent crude oil was 0.63 per cent higher at US$65.70 per barrel while US West Texas Intermediate crude oil rose 0.48 per cent to US$56.28 per barrel.It eased against the Japanese yen to 3.6417/6454 from 3.6383/6438 on Friday but appreciated against the Singapore dollar to 3.0071/0104 from 3.0105/0146.
The local unit improved against the euro to 4.6203/6254 from 4.6258/6319 but declined versus the British pound to 5.3944/4000 from 5.3921/3000 previously. — Bernama
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