KUALA LUMPUR, Feb 14 — The ringgit was muted at the close on Monday against the US dollar on geopolitical risks, while oil prices slipped 0.15 per cent to US$92.96 per barrel.
Despite a seesaw trading, benchmark Brent crude oil prices were stable after hitting their highest in more than seven years over the conflict between Russia and Ukraine which could disrupt supply.
Crude oil soared to its highest in more than seven years on concerns that a possible invasion of Ukraine by Russia could trigger the US and European sanctions that would disrupt exports from one of the world’s top producers.
As an oil-exporting country, any sensitive news of a potential supply disruption may affect the currency, a dealer said.
“Fortunately the positive gross domestic product (GDP) result that came on Friday has cushioned the impact on the ringgit,” he said.
At 6pm, the local note stood at 4.1885/1920 versus the US dollar from 4.1885/1910 recorded on Friday.
On Friday, Bank Negara released the GDP figures for the fourth quarter of 2021, up by 3.6 per cent versus consensus estimates of 3.1 per cent.
Meanwhile, the ringgit traded mostly higher against major currencies except with the yen, which fell to 3.6415/6449 from 3.6089/6111 previously.
It increased vis-a-vis Singapore dollar to 3.1074/1105 from 3.1148/1169, improved against the British pound to 5.6603/6651 from 5.6783/6817 and appreciated to 4.7372//7416 from 4.7686/7715 when compared with the euro.
— Bernama
