The ringgit ends lower against the US dollar

At the close, the ringgit was also trading lower against a basket of major currencies. ― Photo by Sayuti Zainudin

Tuesday, August 23, 2022 7:33 PM MYT

KUALA LUMPUR, Aug. 23 – The ringgit finished weaker against the US dollar today as the greenback continued to strengthen amid rising risk sentiment, an analyst said.

As of 6pm, the local currency slipped to 4.4865/4900 against the greenback from yesterday’s close at 4.4855/4870.

Analysts said investors were cautiously awaiting key economic data to be released this week.

“Remarks from U.S. Federal Reserve Chairman Jerome Powell at the annual Jackson Hole Economic Symposium this Friday are also crucial in determining the central bank’s next direction for interest rates to keep inflation under control,” the report said. analyst.

Meanwhile, the ringgit traded higher against a basket of major currencies today.

It rose against the Singapore Dollar to 3.2141/2170 from 3.2147/2163 at yesterday’s close and rose against the British Pound to 5.2833/2874 from 5.2947/2965 previously.

The local unit also appreciated against the euro at 4.4551/4586 against 4.4886/4901 and rose slightly against the Japanese yen at 3.2662/2690 against 3.2786/2800 previously. — Bernama

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