Ringgit ends lower against greenback

KUALA LUMPUR: The ringgit ended lower against the US dollar today on weaker demand for the local note, amid weaker oil prices and strong US factory activity index, dealers said.
At 6pm, the local unit was quoted at 4.2350/2390 against the US dollar from yesterday’s 4.2320/2350.
A dealer said the local note depreciated as Brent crude oil price fell to US$55.86 per barrel due to oversupply concerns.
“Emerging Asian currencies, including the ringgit, were negatively affected by the firm US factory activity index for September, indicating a recovery in the US economy and this bolsters expectations of US interest rate hike by year-end,” he said.
The ringgit, however, traded higher against other major currencies, except for the euro.
It rose against the Singapore dollar to 3.1046/1085 from Monday's 3.1058/1085, improved against the British pound to 5.6076/6146 from 5.6290/6347 and appreciated against the yen to 3.7471/7510 from 3.7488/7518.
The local note depreciated against the euro to 4.9693/9757 from 4.9637/9689 on Monday. — Bernama