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Ringgit lower against US Dollar Friday

Friday, 30 June 2017

KUALA LUMPUR: The ringgit was lower against the US dollar early Friday prompted by profit-taking activities ahead of the weekend.

At 9am (0100gmt), the ringgit stood at 4.2935/2965 against the greenback from4.2920/2950 on Thursday.

The local note emerged as the Asian major currency this quarter as it has been steadily increasing against the US dollar, climbing more than twice as much as the Chinese yuan, a dealer said.

“Investors were taking profits out following the higher ringgit, however, we hope the higher oil prices will cap the ringgits further decline,”he added.

Against a basket of major currencies, the local note was traded lower. It depreciated against the Singapore dollar to 3.1137/1172 from 3.1115/1148 and compared with the yen it declined to 3.8338/8375 from 3.8175/8205. Vis-a-vis the euro, the ringgit slipped to 4.9079/9118 from 4.8980/8032 and eased against the British pound to 5.5884/5949 from 5.5654/5710, previously.

Source by: Internet

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