Ringgit closes easier against US dollar
KUALA LUMPUR: The ringgit closed easier against the US dollar today in line with most Asian currencies as investors appetite shifted towards the greenback, a dealer said.
The local note was quoted at 3.2580/2610 to the greenback from 3.2270/2300 on Friday's close.
The dealer said Asian currencies fell broadly as the increasing likelihood of a US government shutdown prompted investors to unload risky assets and currencies.
"Furthermore, China's factory activity, which expanded at a slower-than-expected pace in September, also puts pressure on emerging Asian currencies," the dealer said, adding that the ringgit was traded at a range of 3.2313 to 3.2736 to the US dollar today.
The HSBC Purchasing Managers' Index (PMI) came in at 50.2 in September, slightly higher from 50.1 in August, however, lower than HSBC's preliminary September PMI of 51.2 announced on September 23.
Meanwhile, the ringgit was also lower against most major currencies.
It declined against the Singapore dollar to 2.5942/5970 from 2.5691/5725 on Friday and weaker versus the yen at 3.3282/3316 from 3.2705/2752 previously.
It also depreciated against the British pound to 5.2640/2701 from 5.1832/1893 and fell against the euro to 4.3980/4030 from 4.3577/3624 on Friday.-- BERNAMA