Ringgit closes lower against US dollar

Ringgit closes lower against US dollar
Business & Markets 2013
Written by Bernama
Tuesday, 17 December 2013 18:15

KUALA LUMPUR (Dec 17): The ringgit closed lower against the US dollar today, on lack of buying interest for the local currency, amid the absence of fresh market leads, dealers said.

At 5pm, the ringgit was quoted at 3.2455/2485 to the US dollar, compared with 3.2375/2405 yesterday.

A dealer said traders were concerned about the outcome of the Federal Open Market Committee meeting, and this has weighed on the market's risk appetite.

"The ringgit remains under pressure, on concern about the US quantitative easing tapering speculation," it said.

Meanwhile, the ringgit depreciated against the Singapore dollar to 2.5824/5849, from 2.5762/5806 on Monday, and declined against the yen to 3.1534/1566, from 3.1389/1431 yesterday.

The domestic currency was traded lower against the British pound at 5.2996/3058, from 5.2852/2904 yesterday, and decreased against the euro to 4.4694/4742, from 4.4592/4573 on Monday.