KUALA LUMPUR, June 14 — The ringgit remained lower against the US dollar at the close today, as more investors shifted towards safe-haven assets due to growing concerns about the potential interest rate hike in the United States, a dealer said.
At 6pm, the local currency depreciated against the greenback to 4.4190/4220 from Monday’s close of 4.4170/4185.
A dealer said that investors were cautious that eroding inflation data and fast-changing views in the financial market on Monday have opened a door to a larger-than-expected three-quarter-percentage points interest increase when the US Federal Reserve meets this week.
Meanwhile, the ringgit was traded mixed against a basket of major currencies.
The local note rose against the British pound to 5.3496/3533 from Monday’s close of 5.3892/3910 and weakened versus the Singapore dollar to 3.1771/1797 from 3.1770/1783 yesterday.
It also depreciated against the Japanese yen to 3.2921/2948 from 3.2830/2844 on Monday but went up vis-a-vis the euro to 4.6108/6139 from 4.6211/6226.
— Bernama
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