KUALA LUMPUR, Oct 21 — The ringgit ended marginally lower against the United States (US) dollar today as the greenback strengthened amid renewed optimism that the US and China may reach a trade deal soon.
At 6pm, the local note eased to 4.2280/2315 against the US dollar from 4.2240/2275 at Friday’s close.
Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the upcoming meeting between US President Donald Trump and Chinese President Xi Jinping in South Korea next week has become the primary focus for investors.
“So far, President Trump has indicated that his administration is aiming to reach a fair deal with China, suggesting that a more amicable trade outcome could be in sight. Such a development appears to be dollar-positive for now,” he told Bernama.
Afzanizam added that the ringgit hovered around RM4.2200 to RM4.2288 against the US dollar today, following the greenback's generally stronger performance.
At the close, the ringgit traded higher against major currencies.
At Friday's close, it advanced against the British pound to 5.6592/6639 from 5.6741/6788, gained against the euro to 4.9134/9174 from 4.9421/9462, and strengthened against the Japanese yen to 2.7851/7875 from 2.8218/8244.
The local note was mixed against Asean currencies.
It appreciated against the Singapore dollar to 3.2598/2628 from 3.2635/2665 and improved versus the Thai baht to 12.9048/9218 from 12.9301/9471 previously.
However, it slipped against the Indonesian rupiah to 254.8/255.2 from 254.6/254.9, and was flat against the Philippine peso at 7.26/7.27 at last week’s close.
