The ringgit closed lower against the US dollar as developments in West Asia dampened market sentiment, triggering cautious positioning among investors. At 6 pm (Friday 17) the local currency depreciated to 4.0930/0990 against the greenback from Thursday’s close of 4.0710/0745.
Ringgit Ends Lower
It eased versus the Singapore dollar to 3.1709/1758 from 3.1583/1612, and slid against the Indonesian rupiah to 228.4/228.8 from 226.3/226.6, at Thursday’s close. It weakened versus the British pound to 5.5018/5099 from 5.4987/5034 at Thursday’s close, declined vis-a-vis the euro to 4.6824/6893 from 4.6678/6718, and depreciated against the Japanese yen to 2.5208/5246 from 2.5102/5125 previously.
Currency traders pointed to geopolitical uncertainty as a key driver, with risk-off sentiment strengthening demand for safe-haven assets.
Currency weakens as investors turn risk-averse
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