KUALA LUMPUR, Nov 29 — The ringgit settled almost flat against the US dollar on Monday as growing concerns over the global economic outlook kept investors on the sideline, dealers said.
At 6 pm, the ringgit stood at 4.2370/2395 against the greenback from 4.2370/2400 at Friday’s close.
A dealer said the dollar regained part of the ground lost on Friday as investors kept favouring the safe havens amidst rising cautiousness following the discovery of the Omicron variant of the Covid-19.
He said investors are expected to examine the economic impact brought by the Omicron variant and the tightening plans of some central banks for further cues.
Market sentiment, however, was supported by positive economic data from Japan, he said.
The local note was traded mostly lower vis-a-vis a basket of major currencies,
The ringgit was lower against the Singapore dollar to 3.0968/0990 from 3.0893/0920 at Friday’s close and dropped versus the British pound to 5.6517/6551 from 5.6403/6443 last week
It also fell against the Japanese yen to 3.7376/7402 from 3.7131/7160, and slipped against the euro to 4.7819/7847 from 4.7713/7747.
— Bernama
