Ringgit almost flat against the greenback

The ringgit ended nearly flat against the US dollar yesterday as investors stayed cautious amid the ongoing military conflict in the Middle East.

At 6pm, the local note stood at 4.2390/2475 versus the greenback compared with Monday’s close of 4.2370/2450.

Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the ringgit-greenback pair continued to trade sideways during the day.

He said similarly, the US Dollar Index remained below 100 points while Brent crude oil prices fell 0.46% to US$72.89 per barrel.

He explained that although geopolitical risks had increased, the impact on financial markets remained relatively manageable, at least for the time being. “The Middle East situation will continue to be on traders’ and investors’ radar in the immediate term,” he told Bernama.

Read More: Here