KUALA LUMPUR: The ringgit closed slightly weaker against the US dollar yesterday as investors shifted towards safe-haven assets, while trading mostly higher against other major and regional currencies.
At 6pm, the local currency stood at 3.9510/9550 against the greenback, compared with 3.9490/9530 on Tuesday.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the ringgit remained range-bound against the US dollar, hovering between RM3.9528 and RM3.9575.
He said markets remained cautious amid a lack of fresh developments in negotiations between the United States and Iran.
“Traders and investors are hopeful that a near-term compromise could extend the ceasefire and facilitate the eventual reopening of the Strait of Hormuz,” he told Bernama.
