Ringgit eases against US dollar

KUALA LUMPUR: The ringgit eased against the US dollar at close today on lack of commercial buying, dealers said.

The ringgit was quoted at 3.0415/0445 a US dollar compared with yesterday's closing rate of 3.0400/0430.

A dealer said the market was quiet with most traders still absent due to the Chinese New Year holidays.

"The market is normalising after the recent hike driven by international funds due to a weak outlook in the US and Europe," he said.

However, the positive development in Europe coupled with better economic data from the US has re-attracted the funds to return to the regions.

The ringgit was also lower against other major currencies, depreciating against the Singapore dollar to 2.4187/4230 from yesterday's 2.4162/4205 and against the Japanese yen to 3.9408/9462 from 3.9180/9234 previously.

It also went down against the British pound to 4.7736/7793 from Thursday's 4.7688/7742 and declined against the euro to 3.9835/9880 from 3.9827/9879. - Bernama