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Ringgit ends lower against US dollar

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Ringgit ends lower against US dollar Empty Ringgit ends lower against US dollar

Post by Cals Mon 30 Dec 2013, 21:22

Ringgit ends lower against US dollar
Business & Markets 2013
Written by Bernama   
Monday, 30 December 2013 18:11

KUALA LUMPUR (Dec 30): The ringgit closed lower against the US dollar today, in the face of the recent US Federal Reserve's decision to start scaling back its bond-buying stimulus programme next month, said a dealer.

At 5 pm, the ringgit was quoted at 3.2930/2960 to the dollar, compared to 3.2860/2895 last Friday.

The dealer said that the weakening ringgit was also in tandem with the fall in most emerging Asian currencies, on the broad US dollar's strength.

"Like most other emerging Asian currencies, the ringgit has also come under pressure from potential fund outflows, following the Fed's announcement," said the dealer. 

Meanwhile, against other emerging currencies, the local note traded mostly higher.

The ringgit was slightly higher to the Singapore dollar at 2.5929/5973, from 2.5939/5985 on Friday, and rose against the yen to 3.1259/1290, from 3.1367/1403.

It also appreciated against the euro to 4.5259/5307, from 4.5327/5389 on Friday.

But against the British pound, the local unit depreciated to 5.4287/4346, from 5.4173/4237.
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