KUALA LUMPUR, April 8 — The ringgit traded lower against the US dollar today despite a broad overnight greenback retracement with the focus back to the sliding crude oil prices and the Organisation of Petroleum Exporting Countries (OPEC) meeting this Thursday.
At 9.05 am, the ringgit was quoted at 4.3550/3650 against the US dollar compared with Tuesday’s close of 4.3350/3450.
Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid said mixed feeling over possible cuts in oil production, declining Covid-19 fatalities in certain major economies and overnight drop in major equity indices on the Wall Street may result in the forex markets to stay guarded.
— Bernama
