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Ringgit closes lower against US Dollar
Last update: 11/02/2019

KUALA LUMPUR, Feb 11 (Bernama) -- The ringgit closed lower against the US dollar today as a possible revival of the US-China trade war shifted investors’ interest towards the safe-haven greenback.

At the close today, the ringgit stood at 4.0700/0750 against the US dollar from 4.0670/0720 recorded last Friday.

A dealer said with the latest round of high-level talks between the two giant economies set to kick-off on Thursday, investors were seen staying away from emerging market currencies, including the ringgit.

“Market players are not upbeat on the two economies reaching a pact,” he added.

However, the ringgit was traded higher against other major currencies.

It strengthened against the Singapore dollar to 2.9953/0001 from 2.9988/9029 last Friday and rose against the yen to 3.6913/6961 from 3.7023/7079.

Against the euro, the local unit strengthened to 4.5999/6060 from 4.6059/6124 and appreciated against the British pound to 5.2495/2576 from 5.2590/2667.



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S'pore 3.0154/0193
100 Yen3.9250/9290
Euro 4.6328/6366
Source: Bank Negara Malaysia

Reduction in the overnight policy rate (OPR) by Bank Negara Malaysia would be good for consumer spending and investment;
Not sure
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