KUALA LUMPUR: The ringgit closed almost flat against the US dollar yesterday as investors remained cautious amid the ongoing conflict in West Asia.
At 6pm, the local note was almost flat against the greenback, being slightly lower at 4.0275/0320 compared with 4.0245/0320 at Monday’s close.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the ringgit traded within a narrow range against the US dollar as traders monitor the latest developments.
He said United States President Donald Trump’s ultimatum on Iran to reopen the Strait of Hormuz was the main focus among traders.
“Brent crude prices rose to as high as US$111 per barrel before easing to around US$109 per barrel, reflecting a cautious trading environment throughout the day,” he told Bernama.
