Ringgit Ends Lower Against US Dollar

By Rosemarie Khoo KUALA LUMPUR, Nov 25 (Bernama) -- The ringgit closed lower against the US dollar Friday on talks of the US Federal Reserve System (Fed) increasing interest rates in December. At 6pm, the ringgit was traded at 4.4530/4600 against the US dollar from 4.4450/4550 Thursday. Sunway University Business School's Economics Professor, Dr Yeah Kim Leng, said Friday's stable level suggested the market has likely priced the US rate increase. "The currency market will remain volatile due to the changing policy expectation in the US following Donald Trump's victory in the US presidential race," he told Bernama. The Fed left the target range for its federal funds rate unchanged at 0.25 per cent to 0.5 per cent for the seventh time during its November 2016 meeting. The ringgit was traded mostly lower against other major currencies. It fell against the Singapore dollar to 3.1159/1224 from 3.1093/1167 on Thursday. The local note rose against the yen to 3.9379/9455 from 3.9389/9481 Thursday. The ringgit declined against the euro at 4.7175/7267 from 4.6966/6094 on Thursday and fell against the British pound to 5.5538/5639 from 5.5354/5500 Thursday. -- BERNAMA