Ringgit eases against greenback, higher against other currencies
The local unit closed marginally lower versus the US dollar at 4.0945/4.0985 but firmed against major and regional currencies.
KUALA LUMPUR: The ringgit eased against the greenback to 4.0945/4.0985 at 6pm, from Monday's close of 4.0935/4.0975.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the US dollar is likely to remain well supported as positive economic data from the United States reinforces confidence in the strength of the US economy.
"The US Dollar Index (DXY) surpassed the 100-point mark again after the US Institute for Supply Management Manufacturing Index for July came in better than expected," he told Bernama.
Nevertheless, Afzanizam said the ringgit was mostly flat versus the US dollar and moved within a narrow range throughout the day.
At the close, the ringgit traded higher against a basket of major currencies.
It appreciated versus the Japanese yen to 2.5929/2.5956 from 2.6062/2.6089, strengthened against the euro to 4.7120/4.7166 from 4.7165/4.7211, and edged up versus the British pound to 5.5034/5.5088 from 5.5053/5.5107.
The ringgit was also higher against regional currencies.
It strengthened versus the Thai baht to 12.2487/12.2654 from 12.2663/12.2827, rose against the Indonesian rupiah to 227.1/227.4 from 227.4/227.7, appreciated against the Philippine peso to 6.69/6.70 from 6.72/6.73, and advanced versus the Singapore dollar to 3.1899/3.1932 from 3.1911/3.1944.
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