KUALA LUMPUR, May 12 — The ringgit settled 0.39 per cent lower against the US dollar today due to a sell-off following the decline in global crude oil prices, said an analyst.
At 6pm, the local currency depreciated to 4.3935/3945 versus the greenback from Wednesday's close of 4.3755/3785.
The benchmark Brent crude oil prices currently stood at US$105.90 per barrel, down 1.49 per cent.
The analyst said the greenback continued to strengthen amid further monetary policy tightening by the US Federal Reserve (Fed) following the country’s higher inflation data with the latest Consumer Price Index print coming in at 8.3 per cent for April 2022 against the 8.1 per cent consensus.
However, the ringgit was traded mostly higher against a basket of major currencies.
It appreciated against the Singapore dollar to 3.1488/1500 from Wednesday's close of 3.1583/1607, increased vis-à-vis the the euro to 4.5820/5830 from 4.6218/6250 yesterday and rose versus the British pound to 5.3539/3551 from 5.4147/4184 previously.
However, the local note weakened versus Japanese yen to 3.4145/4156 from 3.3723/3748 yesterday.
— Bernama
