Malaysia: Ringgit ends lower against US dollar

KUALA LUMPUR, Sept 13 — The ringgit had retraced its gains last week to close weaker against the US dollar today as some investors had retreated to the safe-haven greenback due to expectations that the United States Federal Reserve would begin tapering asset purchases.

At 6pm, the local note was traded lower at 4.1490/1515 against the US dollar compared with 4.1340/1370 at Friday’s closing.

Aside from some economic data coming from China this week, investors are also watching out for the US consumer prices data due on Tuesday, which is expected to show core inflation easing, while the upcoming release of retail sales data on Thursday could reveal yet another decline, a dealer said.

Meanwhile, the local note was traded mostly lower against a basket of major currencies at the close.

It had ended slightly higher against the euro at 4.8921/8950 from 4.8934/8970 at Friday’s close, but depreciated against the Japanese yen to 3.7681/7703 from 3.7592/7623 previously.

The ringgit had also eased against the Singapore dollar at 3.0903/0926 from 3.0867/0892 on Friday and weakened against the British pound at 5.7356/7390 from 5.7347/7388 previously. — Bernama