KUALA LUMPUR: The ringgit closes lower against the US dollar, pressured by external developments following reports of the United States and Israeli attacks on Iranian vessels in the Strait of Hormuz, which dampened regional market sentiment.
At 6pm yesterday, the ringgit eased to 3.9660/9705 against the greenback from Monday’s close of 3.9510/9550.
According to news reports, the attacks had resulted in several casualties among the Iranians.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid told Bernama that such developments suggest that the ongoing effort for peace negotiations would be futile, risking a prolonged military conflict in West Asia.
At the time of writing, Brent crude was trading higher by 2.8% to US$98.83 per barrel.
“It is like a back and forth situation and it leads to higher market uncertainties,” Mohd Afzanizam said. — Bernama
