KUALA LUMPUR, Oct 5 — The ringgit closed higher against most Asean currencies but eased against the US dollar on Monday, amid renewed concerns over France’s public finances following a sharp sell-off in its bond market last week.
At 6pm, the ringgit eased to 4.0845/0890 against the greenback from Friday’s close of 4.0820/0870.
Bank Muamalat Malaysia Bhd Chief Economist Dr Mohd Afzanizam Abdul Rashid said the US Dollar Index (DXY) gained further momentum as risk-off sentiment prevailed amid concerns over public finances and political upheaval in European economies.
“The euro fell to a 17-month low on Monday following news of a snap election in Spain.
“Hence, the ringgit remained in a tight range against the US dollar thus far,” he told Bernama.
