KUALA LUMPUR, March 12 — The ringgit retreated slightly from yesterday’s gains to trade moderately lower against the US dollar in the early session today as heightened concerns about the Covid-19 pandemic drove investors away from riskier assets, dealers said.
As at 9.25am, the local currency eased to 4.2450/2500 against the greenback from 4.2300/2350 at yesterday’s close.
The World Health Organisation (WHO) last night declared the rapidly spreading Covid-19 outbreak as a pandemic as the virus rapidly spread across the world with the number of victims topped 121,000 victims people as of last night.
The ringgit was traded mixed against other major currencies.
It rose against the Singapore dollar to 3.0400/0444 from yesterday’s close of 3.0425/0468 but decreased versus the Japanese yen to 4.0786/0846 from 4.0263/0322.
The local unit appreciated against the British pound to 5.4523/4600 from 5.4812/4894 but weakened vis-a-vis the euro to 4.7956/8017 from 4.7812/7877 yesterday.
— Bernama
