Ringgit Closes Lower Against US Dollar

KUALA LUMPUR, Aug 29 (Bernama) -- The ringgit closed lower against the US dollar Monday on lack of buying support, dealer said. At 6 pm, the ringgit was quoted at 4.0430/0480 against the greenback from 4.0130/0200 on Friday. Dealer said the greenback rose after the Federal Reserve (Fed) bolstered expectation that US interest rates will be rise soon. "Traders are now looking forward to US economic data, due to be released this week, that will indicate if the Fed will raise interest rates soon," he said. Meanwhile, the local currency was also traded mixed against a basket of major currencies. The local note improved against the euro to 4.5209/5281 from 4.5299/5414 on Friday and decreased against the Singapore dollar to 2.9704/9749 from 2.9669/9729 on Friday. It fell against the British pound to 5.2959/2049 from 5.2956/3056 previously and rose against the yen to 3.9579/9640 from 3.9942/1024 on Friday. -- BERNAMA