KUALA LUMPUR: The ringgit ended lower against the US dollar as oil prices declined, and the pressure was exacerbated by growing anticipations of an aggressive interest rate hike decision by the United States Federal Reserve tomorrow, said an analyst. At 6 pm, the local currency fell to 4.5585/5595 against the greenback from 4.5495/5515 at Monday’s close. At the time of writing, the oil benchmark Brent crude price had dropped 0.16 per cent to US$91.85 per barrel. Meanwhile, the ringgit was traded lower against a basket of major currencies. It depreciated against the British pound to 5.2049/2060 from 5.1678/1700 at yesterday’s close and shrank versus the Singapore dollar to 3.2341/2353 from 3.2261/2278 previously.

Source: The Star September 20, 2022 23:57 UTC