Focus

Ringgit eases against us dollar at close after five days of gains

16 Jan 2022 07:52am
No Image Caption
KUALA LUMPUR - The ringgit finished lower yesterday after closing higher for five consecutive trading days, but the local currency’s prospect remains constructive due to high oil prices and uncertainties in the United States, which would influence the US dollar’s performance.

At 6 pm, the ringgit slid to 4.1765/1795 against the greenback from 4.1750/1775 from the close the day before.

Bank Islam Bhd chief economist Mohd Afzanizam Abdul Rashid said the ringgit’s prospect was still on the upside despite rate hike calls in the US gaining further momentum, which could push the dollar higher.

Meanwhile, the local note was traded mixed against a basket of other major currencies.

The ringgit eased versus the Singapore dollar to 3.1045/1070 from 3.1034/1055 yesterday and weakened against the Japanese yen to 3.6675/6704 from 3.6450/6472.
Related Articles:


However, it rose against the British pound to 5.7339/7380 from 5.7348/7382 on Thursday and appreciated vis-a-vis the euro to 4.7846/7880 from 4.7883/7912. - BERNAMA
Ringgit
Closing
US dollar
Oil
Interest rate
Mohd Afzanizam Abdul Rashid
More Like This
Business owner Siti Sulekha Zakaria, 36, prepares a hamper filled with food products synonymous with the state of Tok Gajah at her shop in Kompleks Serambi Teruntum recently. Photo by Bernama
Business owner Siti Sulekha Zakaria, 36, prepares a hamper filled with food products synonymous with the state of Tok Gajah at her shop in Kompleks Serambi Teruntum recently. Photo by Bernama
Money Couple see strong business growth by selling hampers with a difference
Two years ago, the couple took their business to even greater heights by producing hampers containing food products that are synonymous with the state.
Traders work on the floor of the New York Stock Exchange (NYSE) on November 13, 2024, in New York City. (Photo by ANGELA WEISS/AFP)
Traders work on the floor of the New York Stock Exchange (NYSE) on November 13, 2024, in New York City. (Photo by ANGELA WEISS/AFP)
Money US adds South Korea to currency watchlist, drops Malaysia
The semi-annual report looks into countries with large trade surpluses with respect to the United States that also actively intervene in foreign exchange markets to gain a competitive advantage.
People participate in a car caravan in support of US President-elect Donald Trump on November 9, 2024 in New York City. - Photo by AFP
People participate in a car caravan in support of US President-elect Donald Trump on November 9, 2024 in New York City. - Photo by AFP
Money Malaysia to monitor US economic policies following Trump’s election victory - Finance Minister II
Malaysia’s economic outlook remains strong as GDP grows by 5.1 per cent in 2024.
Photo for illustration purposes only. - 123RF
Photo for illustration purposes only. - 123RF
Money Bitcoin price exceeds US$80,000 for first time
In the past seven days, the leading cryptocurrency has gained more than 17 per cent in value.