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Ringgit closes lower against US dollar

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Ringgit closes lower against US dollar Empty Ringgit closes lower against US dollar

Post by Cals Tue 26 Nov 2013, 05:11

Ringgit closes lower against US dollar
Business & Markets 2013
Written by Bernama   
Monday, 25 November 2013 18:19
KUALA LUMPUR (Nov 25): The ringgit closed lower against the US dollar for the fourth consecutive trading day today in line with regional currencies, as interest for the greenback continued to increase, dealers said.
At 5pm, the ringgit was quoted at 3.2170/2200 to the greenback from 3.2140/2170 on Thursday.    
A dealer said the ringgit slipped to its weakest since Oct 2 and is expected to weaken to 3.2366, a reversal of its appreciation between Sept 30 and Oct 28.
"It weakened past a 100-day moving average at 3.2190. The ringgit had been closing daily sessions firmer than the average since Oct 3," it said.
Meanwhile, the ringgit was mixed against other major currencies.
The local unit appreciated against the Singapore dollar to 2.5691/5717 from 2.5691/5734 on Friday and improved against the yen to 3.1623/1662 from 3.1815/1848 previously.
The ringgit, however, was lower against the British pound at 5.2122/2177 from last week's 5.2076/2138 and depreciated against the euro to 4.3516/3563 from 4.3367/3420.
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