THE ringgit traded lower against the US dollar today despite a broad overnight greenback retracement with the focus back to the sliding crude oil prices and the Organisation of Petroleum Exporting Countries (OPEC) + meeting tomorrow.
At 9.05am, the ringgit was quoted at 4.3550/3650 against the US dollar compared with yesterday’s close of 4.3350/3450.
Bank Islam chief economist Dr Mohd Afzanizam Abdul Rashid said mixed feeling over possible cuts in oil production, declining Covid-19 fatalities in certain major economies and overnight drop in major equity indices on the Wall Street may result in the forex markets to stay guarded. – April 8, 2020, Bernama
