KUALA LUMPUR: The ringgit has closed higher against most Asean currencies, but eased against the US dollar amid renewed concerns over France’s public finances following a sharp selloff in its bond market last week.
At 6pm yesterday, the ringgit eased to 4.0845/0890 against the greenback from last Friday’s close of 4.0820/0870.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the US Dollar Index gained further momentum as risk-off sentiment prevailed amid concerns over public finances and political upheaval in European economies.
“The euro fell to a 17-month low yesterday following news of a snap election in Spain. Hence, the ringgit remained in a tight range against the US dollar thus far,” he said.
The ringgit traded mixed against a basket of major currencies. — Bernama
