Ringgit slips versus US dollar at the close

Ringgit slips versus US dollar at the close
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KUALA LUMPUR (Sept 7): The ringgit extended its decline against the US dollar today, weighed down by a strengthening greenback, said an analyst.

At 6pm, the local note fell to 4.1545/1560 versus the greenback from Monday’s close of 4.1465/1490.

AmBank Research, in its research note today, said it expects the local note to continue its depreciating trend against the US dollar in the remaining months of 2021.

“It will likely range from the 4.15 to 4.20 levels and with room to reach 4.30 by end-2021,” the research house said.

The ringgit was also mostly lower against a basket of major currencies.

The local note fell versus the Singapore dollar to 3.0902/0918 from 3.0875/0896, decreased vis-a-vis the euro to 4.9314/9332 from 4.9186/9215, and depreciated against the Japanese yen to 3.7785/7799 from 3.7730/7753 on Monday.

It traded almost flat against the British pound at 5.7403/7423 from 5.7404/7435 previously.