KUALA LUMPUR: The ringgit closed lower against the US dollar today, as escalating geopolitical tensions in the Middle East increased demand for the greenback amid heightened risk aversion.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Rashid said the ongoing conflict involving Iran continued to dominate market sentiment after the US reportedly launched another attack on the country, while Kuwait responded to missile and drone threats, signalling slimmer prospects for peace in the Gulf region.
At 6pm, the local currency eased to 3.9670/3.9770 versus the greenback from Tuesday’s close of 3.9660/3.9705.
MORE TO COME
