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Ringgit’s three-day uptrend ends after touching support level | Scoop
At 6pm, the ringgit has closed at 4.6590/6635 against the greenback from yesterday’s close of 4.6495/6550. – Scoop pic, November 30, 2023
News

Ringgit’s three-day uptrend ends after touching support level

It closes at 4.6590/6635 against USD compared to yesterday’s close of 4.6495/6550 

Bernama
Updated
6:48 PM MYT

 

KUALA LUMPUR – The ringgit closed lower today, snapping three consecutive days of gains on profit-taking after the local note touched the immediate support level of RM4.6611 against the US dollar. 

At 6pm, the ringgit fell to 4.6590/6635 against the greenback from yesterday’s close of 4.6495/6550.

Bank Muamalat Malaysia chief economist Mohd Afzanizam Abdul Rashid said the local note is struggling to maintain its appreciation bias after piercing the immediate support level. 

“Profit-taking activities appear to seep in whenever it hits the immediate support level,” he told Bernama. 

At the close, the ringgit was traded mostly higher versus a basket of major currencies. 

It appreciated further vis-a-vis the euro at 5.0918/0967 from 5.1014/1075 on yesterday’s close, and was slightly higher against the British pound at 5.8941/8998 from yesterday’s 5.8951/9021. 

But the local note eased against the Japanese yen to 3.1601/1634 from 3.1513/1553 previously. 

The local note was traded higher against other Asean currencies, except against the Philippine peso. 

It was marginally higher versus the Singapore dollar at 3.4883/4920 from yesterday’s 3.4909/4953, rose against the Thai baht to 13.2335/2546 from 13.3484/3722 and edged up against the Indonesian rupiah to 300.3/300.8 from 301.9/302.5 at yesterday’s close. 

The ringgit was unchanged versus the Philippine peso at 8.39/8.41 since yesterday. – November 30, 2023

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