KUALA LUMPUR, March 10 — The ringgit fell against the US dollar at the close today with the market sentiment remaining weak as lingering concerns over the Russia-Ukraine war kept investors on the sidelines.
At 6pm, the local currency declined further to 4.1860/1895 versus the greenback, compared with 4.1845/1875 on Wednesday’s close.
SPI Asset Management managing partner Stephen Innes said supply chain woes and continuing stagflation concerns are denting the appetite for more risky assets like the local currency.
“(But) nothing negative per se as the ringgit is getting anchored by the yuan regionally,” he told Bernama.
The ringgit traded lower against a basket of major currencies, except for the Japanese yen.
It strengthened to 3.6102/6135 against the Japanese currency from 3.6126/6155 yesterday but eased against the British pound at 5.5134/5180 from 5.5068/5108.
The Malaysian note fell against the Singapore dollar to 3.0800/0830 from 3.0739/0766 on Wednesday and declined to 4.6230/6269 against the euro from 4.5912/5945.
— Bernama
