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Ringgit closes lower against US dollar on weak risk appetite among investors

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Ringgit closes lower against US dollar on weak risk appetite among investors Empty Ringgit closes lower against US dollar on weak risk appetite among investors

Post by Cals Wed 30 Oct 2013, 21:48

Ringgit closes lower against US dollar on weak risk appetite among investors
Business & Markets 2013
Written by Bernama   
Wednesday, 30 October 2013 19:00
(30/10/13 18:06)

KUALA LUMPUR (Oct 30): The ringgit closed lower against the US dollar for the third day, dampened by weak risk appetite among investors, dealers said.

At the close, the local note fell against the greenback to 3.1461/1490, from 3.1440/1470 on Tuesday. 

"The prudent 2014 Budget's sentiment was overshadowed by the highly-anticipated outcome of the two-day US Federal Reserve meeting, which will be concluded Wednesday (US time).

"If it decides to start reducing its monetary stimulus, it will affect global foreign exchange markets," he told Bernama.

Against other major currencies, the ringgit was traded mixed. 
It closed higher versus the yen, to 3.2031/2070 from 3.2191/2228 on Tuesday, and increased against the pound sterling, to 5.0504/0563 from 5.0519/0580 yesterday.

Against the Singapore dollar, the local note declined to 2.5398/5430, from 2.5357/5389 yesterday, and against the Euro, it dropped to 4.3306/3352 from 4.3241/3285 on Tuesday.
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