KUALA LUMPUR, March 13 — The ringgit closed lower against the US dollar today amid a decline in global crude oil prices as well as rising fears on Covid-19.
The local currency fell to 4.2750/2800 against the greenback from 4.2590/2650 at yesterday’s close.
A dealer said the global financial markets succumbed to intensifying worries over the Covid-19 pandemic.
“The ringgit continued its downtrend to trade lower against the US dollar today, with more investors turning to safe-haven currencies due to Covid-19 outbreak concerns,” he said.
The World Health Organisation declared Covid-19 a global pandemic on Wednesday.
Against other major currencies, the ringgit was however traded higher.
It rose against the Singapore dollar to 3.0360/0406 from Wednesday’s close of 3.0365/0412 and increased versus the Japanese yen to 4.0228/0279 from 4.1007/1077.
The local unit appreciated against the British pound to 5.3822/3902 from 5.4289/4383 and improved vis-a-vis the euro to 4.7730/7790 from 4.7884/7877 yesterday. — Bernama