KUALA LUMPUR: The ringgit closed lower against the US dollar today, in line with Asian emerging currencies and as the greenback stayed strong on
the back of last week's good US economic data, a dealer said.
At 6pm, the local unit stood at 4.2820/2850 against the greenback, compared to last Friday's close of 4.2770/2800.
The dealer said the greenback was steady against other major currencies after the US July data showed an increase in non-farm payrolls and wages.
He added the US dollar also remained buoyed by positive sentiment brought on by National Economic Council Director, Gary Cohn's comment on the prospect of corporate profit repatriation to the US, as well as a corporate tax reduction by the US administration.
Meanwhile, the ringgit closed mostly higher against a basket of major currencies.
It rose against the Singapore dollar to 3.1416/1456 from 3.1534/1570 on last Friday and versus the yen, appreciated to 3.8632/8663 from 3.8857/8895.
It strengthened against the British pound to 5.5884/5928 from 5.6264/6312 and improved against the euro to 5.0528/0580 from 5.0811/0864. — Bernama