KUALA LUMPUR - The ringgit continued to close lower against the US dollar Monday as the greenback remained strong against other major currencies, a dealer said.
At 5 pm, the local note was quoted at 3.5320/5350 against the greenback compared with 3.5150/5170 on Friday.
"The ringgit weakened mainly due to the bullish dollar, while the oil prices which were already low did not seem to have much impact on the ringgit today," he said.
The ringgit was traded mixed against other major currencies.
It appreciated against the euro to 4.2225/2275 from 4.2345/2380 on Friday and strengthened against the pound to 5.4050/4110 from 5.4588/4630.
The local unit fell against the Singapore dollar to 2.6479/6503 from Friday's 2.6450/6471 and depreciated against the yen to 2.9343/9373 from 2.9202/9228 previously.
According to Bloomberg, the ringgit's fall was also a five-year low against the US dollar, which continued its climb against other major currencies.
Bloomberg reported that as of 11.02am, the ringgit depreciated 0.6% to 3.5390 a dollar after last week’s 0.7 percent loss
"That’s the lowest level since September 2009," it said, citing data it compiled.
Last month, Bloomberg quoted Dominic Bunning, senior currency strategist at HSBC Holdings Plc in Hong Kong, as saying that major Asian currencies would take a beating in 2015 from the dollar's strength as well as lower oil prices. - Agencies
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