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IBT:Ringgit closes lower against US dollar
 
The ringgit closed lower against the US dollar and other major currencies on lack of buying support amid the strong dollar in the global market, currency dealers said.

The ringgit was quoted at 3.3270/3300 to a US dollar from yesterday's close at 3.3030/3070.

They said most players stayed on the sidelines amid lack of fresh leads, adding that investors also do not see any changes in the policy direction from the central bank.

Bank Negara maintained the Overnight Policy Rate (OPR) at three per cent for the 14th time since May 2011.

"The ringgit came under pressure as fear grow that the US Federal Reserve will start cutting its stimulus programme," a dealer said.

Meanwhile, the ringgit was also traded lower against all other major currencies.

The local unit was lower against the Singapore dollar at 2.6008/6036 from 2.5835/5886 yesterday but was weaker against the yen at 3.3377/3414 from 3.3066/3120 on Thursday.

Against the British pound, the ringgit fell to 5.1808/1868 from 5.1580/1655 yesterday and weakened against the euro to 4.3680/3730 from 4.3553/3613 on Thursday.-- Bernama

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