RINGGIT FALLS AGAINST US DOLLAR AMID COVID-19 FEARS

AZLEE NOR MAHMUD

KUALA LUMPUR, March 13 (Bernama) -- The ringgit closed lower against the US dollar today amid a decline in global crude oil prices as well as rising fears on COVID-19.

The local currency fell to 4.2750/2800 against the greenback from 4.2590/2650 at yesterday's close.

A dealer said the global financial markets succumbed to intensifying worries over the COVID-19 pandemic.

“The ringgit continued its downtrend to trade lower against the US dollar today, with more investors turning to safe-haven currencies due to COVID-19 outbreak concerns,” he said.

The World Health Organisation declared COVID-19 a global pandemic on Wednesday.

Against other major currencies, the ringgit was however traded higher.

It rose against the Singapore dollar to 3.0360/0406 from Wednesday's close of 3.0365/0412 and increased versus the Japanese yen to 4.0228/0279 from 4.1007/1077.

The local unit appreciated against the British pound to 5.3822/3902 from 5.4289/4383 and improved vis-a-vis the euro to 4.7730/7790 from 4.7884/7877 yesterday.

-- BERNAMA

 

TAGS: Ringgit, US dollar, COVID-19. Oil, World Health Organisation