KUALA LUMPUR: The ringgit ended lower against the US dollar yesterday due to profit-taking and a lack of fresh market catalysts.
At 6pm, the local currency eased to 4.0770/0800 versus the greenback, from 4.0740/0785 at last Friday’s close, when it hit its strongest level in almost six years.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the ringgit requires a catalyst to appreciate further.
“The ringgit was oscillating within a narrow range between RM4.0750 and RM4.0813.
“Perhaps, traders and investors are assessing the prevailing level of the ringgit and how it can evolve going forward,” he told Bernama.
Mohd Afzanizam said traders would also be watching the United States gross domestic product for the third quarter of 2025, expected today.
