Ringgit ends slightly lower against US dollar

KUALA LUMPUR, Nov 29 — The ringgit ended slightly lower against the US dollar today in line the decline in global crude oil prices which affected the local note’s valuation, said a dealer.

At 6pm, the ringgit settled at 4.1750/1780 against the greenback compared with yesterday’s close of 4.1720/1750.

A dealer said the benchmark Brent crude trimmed 0.76 per cent to US$62.79 per barrel at the time of writing

FXTM market analyst Han Tan said in a week when Asian currencies endured mixed fortunes against the US dollar, the ringgit threatened to make a run for the 4.19 mark after breaching above its 50-day moving average, before moderating in the second half of the week.

“The ringgit has now marked three consecutive months of gains against the US dollar.

“This week’s market action once again underscores the influence that the ongoing US-China trade negotiations have over global risk appetite, as investors continue pinning their hopes on a limited trade deal between the world’s two largest economies,” he told Bernama.

Meanwhile, the ringgit was traded mostly higher against other major currencies.

The local currency was lower against the Singapore dollar at 3.0550/0579 from 3.0537/0579 on Thursday but increased versus the British pound to 5.3807/3859 from 5.3965/4020 yesterday.

It improved against the yen to 3.8100/8138 from 3.8125/8156 and appreciated against the euro to 4.5938/5987 from 4.5942/5992 previously. — Bernama