Ringgit Ends Lower Against US Dollar

KUALA LUMPUR, Nov 14 (Bernama) -- The ringgit extended its losses to end lower against the US dollar Wednesday, in line with most Asian currencies on better demand for the greenback as traders fall back on safe-haven currency after news on gloomy global growth, dealers said. At 6 pm, the ringgit stood at 4.1945/1975 versus the US dollar compared with Tuesday’s close of 4.1920/1960. A dealer said the foreign exchange market also took cues from reports that the International Monetary Fund (IMF) had warned of a slower global growth. “IMF has forecast global growth for 2018-2019 to be at 3.7 per cent,” the dealer said. The local unit was lower against other major currencies. The ringgit declined against the Singapore dollar to 3.0349/0377 from 3.0285/0333 on Tuesday, and declined vis-a-vis the Japanese yen to 3.6826/6859 from 3.6733/6781. It decreased against the British pound to 5.4386/4433 from Tuesday’s 5.4022/4099, and eased against the euro to 4.7264/7314 from 4.7097/7146 previously. -- BERNAMA