Ringgit ends easier against US dollar

KUALA LUMPUR: The ringgit ended lower against the American dollar on Monday due to higher US yields and strong US payrolls data, which lifted the greenback higher.

At 6pm, the local currency fell to 4.4570/4600 versus the greenback from last Friday’s close of 4.4490/4520.

SPI Asset Management managing partner Stephen Innes said the development in the US and the COVID-19 situation in China has dampened sentiment for emerging currencies, including the ringgit.

Meanwhile, the ringgit also closed lower against a basket of major currencies except for the British pound.

The local currency edged up against the euro to 4.5408/5438 from 4.5513/5544 last Friday and improved vis-a-vis the Japanese yen to 3.3010/3035 from 3.3459/3484 last Friday.

It went up against the Singapore dollar to 3.2309/2333 from last Friday’s 3.2330/2355 and advanced versus the British pound to 5.3872/3908 from 5.3989/4025 previously. - Bernama

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