KUALA LUMPUR: The ringgit depreciated against the US dollar today despite higher crude oil price which was trading above US$60 per barrel, a dealer said.
At 6pm, the ringgit was quoted at 4.1410/1450 versus the greenback from 4.1350/1400 recorded yesterday.
Bank Negara’s decision today to maintain the overnight policy rate at 3.25% did not provide much support for the local note as it was within market expectation.
“Overall global market sentiment was still sluggish with the United States likely to pause interest rate hike until at least in the second half of this year,” he said.
Meanwhile, the ringgit was traded lower against other major currencies.
It fell against the Singapore dollar to 3.0435/0469 from 3.0420/0461 on Wednesday and decreased slightly versus the euro to 4.6984/6033 from 4.6949/6026.
The local unit slipped vis-a-vis the Japanese yen to 3.7728/7775 from 3.7701/7756 and depreciated against the British pound to 5.4019 4080 from 5.3689/3770. — Bernama