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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 Wed 22 Jan 2014, 19:16

Ringgit closes lower against US dollar
Business & Markets 2014
Written by Bernama   
Wednesday, 22 January 2014 18:24

KUALA LUMPUR (Jan 22): The ringgit was down against the US dollar at close today, on expectation that the US Federal Reserve (Fed) would further cut its stimulus programme to US$65 billion, from US$75 billion a month.

At 5 pm, the ringgit was quoted at 3.3310/3410 versus the greenback, from Tuesday's 3.3230/3250.

The Fed will announce its monthly bond purchases at end-January, during its policy meeting.

Meanwhile, the ringgit traded mostly lower against other major currencies.

The local unit depreciated against the Singapore dollar to 2.6009/6035, from 2.5981/5001 on Tuesday, and eased against the yen to 3.1840/1881, from 3.1747/1770 previously.

The ringgit fell against the British pound to 5.4659/4721, from 5.4577/4623 on Tuesday, but strengthened against the euro to 4.4963/4014, from 4.4983/4017 previously.
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