KUALA LUMPUR: The ringgit weakened against the US dollar and other major currencies at yesterday’s close on cautious sentiment as investors await clearer signs of de‑escalation in the Iran war.
At 6pm, the local currency eased to 3.9620/9670 against the greenback from Tuesday’s close of 3.9530/9585.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said foreign markets appeared defensive as traders and investors eyed clearer signs of a de‑escalation in the West Asia conflict.
“The prevailing conditions were not unique to the ringgit, as regional currencies also depreciated against the greenback. Despite this, the US Dollar Index or DXY remains below 100 points, currently hovering at around 99.348,” he told Bernama.
