Ringgit Ends Easier Against US Dollar

KUALA LUMPUR, Sept 28 (Bernama) -- The ringgit closed easier against the US dollar Wednesday on a continued uncertainty in oil prices, dealers said. At 6 pm, the ringgit was quoted at 4.1360/1410 against the greenback from 4.1220/1270 Tuesday. A dealer said the ringgit declined in tandem with the emerging Asian currencies that remained under pressure ahead of oil producers' talks in Algeria. "Hopes faded for a deal to curb output. Iran, which had played down expectations of a deal, had rejected the offer to limit its output. "This reduced the likelihood of any deal on output agreement being struck," he said. Meanwhile, another dealer said, the greenback rose generally Wednesday with focus shifting to the US Federal Reserve (Fed) Chair Janet Yellen's testimony later in the day. "The possibility of a December increase had slimmed but Yellen may answer questions about the Fed's outlook on rates and the economy," he said. The ringgit was also traded lower against other major currencies. It fell against the Singapore dollar to 3.0380/0422 from 3.0322/0370 on Tuesday and eased against the yen to 4.1081/1143 from 4.1035/1093 Tuesday. The local unit fell against the British pound to 5.3747/3821 from 5.3335/3424 yesterday and declined against the euro to 4.6389/6454 from Tuesday's 4.6352/6425. -- BERNAMA