KUALA LUMPUR, April 14 — The ringgit retreated from yesterday’s gains to end lower against the US dollar on Thursday, as investors switched to safe havens amid the weakening of global oil prices, dealers said.
At 6pm, the local note was traded at 4.2305/2330 versus the greenback compared with Wednesday’s close of 4.2290/2320.
An analyst said oil futures were slightly down Thursday morning, after rising sharply in the first half of the week, as traders weighed a larger-than-expected build in the US oil stocks against tightening global supply.
Meanwhile, the ringgit was traded mostly firmer against a basket of major currencies.
It was lower against the Singapore dollar to 3.1238/1258 from 3.1009/1033 at Wednesday’s close and weakened versus the Japanese yen to 3.3744/3767 from 3.3548/3574 yesterday.
The local unit slipped against the euro to 4.6180/6207 from 4.5813/5845 and marginally decreased vis-a-vis the British pound to 5.5580/5613 from 5.5028/5067 previously.
— Bernama
