Malaysian Ringgit Ends Lower Against US Dollar

KUALA LUMPUR, Sept 6 (Bernama) -- The Malaysian ringgit closed lower against the US dollar today on weak demand for the local note as investors remained cautious ahead of Bank Negara Malaysia's (BNM or Malaysia's Central Bank) monetary policy meeting tomorrow, a dealer said. At 6 pm, the ringgit was quoted at 4.0780/0850 against the greenback from 4.0670/0710 on Monday. BNM cut the Overnight Policy Rate by 25 basis points to three per cent at its Monetary Policy Committee meeting in July due to potential risks from Britain's exit from the European Union. The dealer said the weak market sentiment was also a follow through on expectations that the US Federal Reserve could raise interest rates at year- end. Meanwhile, the ringgit traded lower against a basket of major currencies. The ringgit fell against the euro to 4.5531/5621 from 4.5404/5465 on Monday and slid against the Singapore dollar to 3.0058/0125 from 2.9959/0009. It eased against the British pound to 5.4388/4506 from 5.4181/4258 and declined against the yen to 3.9485/9572 from 3.9417/9459. --BERNAMA