September 06, 2006
FOREX: Ringgit Lower Against US Dollar
KUALA LUMPUR, Sept 6 (Bernama) -- The ringgit ended lower against the US dollar Wednesday as the greenback regained strength in overseas markets ahead of the release of key US data that will provide direction for the country's economy, analysts said.
Market players were awaiting the data from the Institute for Supply Management's survey on services sector for August and the release of Federal Reserve's Beige Book, they said.
Analysts said the market was relatively quiet as players decided to "wait and see the outcome."
At 5 pm, the ringgit fell to 3.6475/6525 against the greenback from 3.6400/6450 posted Tuesday.
The ringgit was lower against the Singapore dollar at 2.3265/3312 from 2.3249/3279 Tuesday. It was higher against the yen at 3.1328/1376 from 3.1469/1518 previously.
Against the British pound, the local currency strengthened to 6.8920/9036 from 6.9117/9208. It was weaker against the euro at 4.6757/6825 from 4.6747/6813.
