Ringgit ends unchanged versus US dollar

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KUALA LUMPUR: The ringgit ended the day unchanged towards the US dollar right this moment, as market sentiment remained fragile because of the world rate of interest setting.

At 6 pm, the native forex stood at 4.3870/3915 versus the dollar in contrast with Friday’s shut of 4.3870/3910.

Observing from a technical standpoint, Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid mentioned the ringgit is in an oversold place and a slight correction is, subsequently, seemingly.

“It is just too early to say whether or not this pattern will be sustained, particularly in mild of the hawkish financial stance of the US Federal Reserve,” he advised Bernama.

He added that the ringgit is predicted to stay inside a slim vary within the close to future.

The ringgit was traded decrease towards a basket of main currencies.

It depreciated towards the Singapore dollar to three.1933/1968 from Friday’s 3.1845/1879, dropped vis-a-vis the euro to 4.6840/6888 from 4.6445/6488 beforehand, and declined versus the British pound to five.5167/5223 from 5.4732/4782.

The native observe additionally eased versus the Japanese yen to three.4408/4446 from Friday’s 3.4236/4270. – Bernama



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