money

Ringgit closes unchanged on lack of catalysts

KUALA LUMPUR, Oct 12 — The ringgit closed unchanged against the US dollar today on lack of catalysts, a dealer said.

At 6pm, the local unit stood at 4.2200/2240 against the greenback, similar to Wednesday’s close of 4.2200/2250.

The dealer said improved industrial production in August 2017 should complement the current upside for the ringgit while the US dollar was heavily pressured by the uncertainty over the US inflation and US President Donald Trump's tax plan. 

“Traders were awaiting the release of the minutes of the US Federal Reserve's latest meeting due Thursday midnight for clues on the direction of the interest rates,” the dealer said.

The ringgit ended mostly lower against other major currencies, except the yen.

It eased against the Singapore dollar to 3.1153/1187 from Wednesday’s 3.1080/1128 and depreciated against the British pound at 5.5772/5841 from 5.5645/5728 yesterday.

The local unit declined against the euro to 5.0007/0071 from 4.9817/9885 yesterday. It, however, appreciated against the yen to 3.7538/7577 from 3.7598/7653 yesterday. — Bernama

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