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Monday, January 19, 2015

Ringgit ends LOWER against US dollar ahead of govt 'measures' to cushion oil price slide

Ringgit ends LOWER against US dollar ahead of govt 'measures' to cushion oil price slide
KUALA LUMPUR - The ringgit retreated from earlier gains to close lower against the US dollar today on continuous weakening of global oil prices despite the government announcing a budget revision tomorrow to cushion the impact of the oil price slump, dealers said.
At 5 pm, the local note was quoted at 3.5700/5590 against the greenback compared with 3.5580/5610 on Friday.
A dealer said the expectations for further slide in oil prices would hurt the ringgit.
Furthermore, he said it was still uncertain as to how much modification would be made to the budget.
The ringgit was traded mixed against other major currencies.
It strengthened against the Singapore dollar to 2.6808/6840 from Friday's 2.6867/6898 and appreciated against the Japanese yen to 3.0456/0486 from 3.0522/9561.
The local unit weakened against the British pound to 5.4100/4149 from 5.4096/3156 and depreciated against the euro to 4.1355/1393 from 4.1319/2361- BERNAMA

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