KUALA LUMPUR – The ringgit reversed yesterday's gains to end weaker against the US dollar today amid internal and external uncertainties as the market watched closely the US elections as vote counting is still underway.
At 6pm, the local currency stood at 4.1650/1710 versus the US dollar compared with 4.1540/1580 at yesterday's close.
A dealer said the dollar's stronger performance could be driven by future policy direction which included trade policies and economic recovery plan as the US continues to grapple with surging Covid-19 cases.
Locally, the market awaits the Budget 2021 announcement to be tabled on Friday.
Meanwhile, the ringgit weakened against other major currencies but improved against the Singapore dollar.
It rose slightly against the Singapore dollar to 3.0502/0559 from yesterday's closing of 3.0517/0558.
The local currency declined against the British pound to 5.4024/4110 from 5.3965/3021, weakened against the euro to 4.8626/8701 from Tuesday's closing of 4.8585/8636 and was lower vis-a-vis the yen at 3.9704/9769 from 3.9668/9713 previously. – Bernama, November 4, 2020
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