KUALA LUMPUR, April 30 — The ringgit eased against most currencies, including the US dollar, as investors shifted towards safe-haven assets amid concerns over volatile crude oil prices.

At 6 pm, the local note depreciated to 3.9690/9740 against the greenback from 3.9495/9540 at yesterday’s close.

Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said uncertainties over crude oil prices have heightened, with West Texas Intermediate (WTI) and Brent crude rising 1.28 per cent and 3.44 per cent to US$108.25 per barrel and US$122.09 per barrel, respectively.

On another development, he told Bernama that the United States (US) Federal Open Market Committee (FOMC) is unlikely to cut interest rates in the near term, as its latest decision showed that some policymakers preferred to keep rates unchanged rather than move towards easing.

At its third meeting of the year, the FOMC maintained the target range for the US federal funds rate at 3.50 — 3.75 per cent.

At the close, the ringgit traded lower against a basket of major currencies.

It eased against the Japanese yen to 2.4907/4942 from 2.4709/4739 at the close on Wednesday, slid against the euro to 4.6417/6476 from 4.6197/6250 yesterday, and slipped versus the British pound to 5.3593/3661 from 5.3330/3391 previously.

The local currency also weakened against regional peers.

It depreciated against the Singapore dollar to 3.1061/1103 from 3.0909/0946 at Wednesday’s close, fell against the Thai baht to 12.1711/1932 from 12.0791/0980 yesterday, decreased against the Indonesian rupiah to 228.7/229.2 from 227.9/228.3, and receded against the Philippine peso to 6.45/6.47 from 6.41/6.42 previously.

The local market will be closed tomorrow in conjunction with the Labour Day public holiday. — Bernama

KUALA LUMPUR, April 30 — The ringgit opened lower against the US dollar and was mixed against other currencies, as support from firmer oil prices was offset by broad dollar strength and cautious positioning following the US Federal Reserve (Fed)’s rate decision.

At 8.04 am, the domestic unit eased against the greenback to 3.9565/9630, from 3.9495/9540 at Wednesday’s close.

Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the Fed was inclined to keep rates steady, as economic activity continued to expand at a solid pace despite slower job growth.

At its third meeting of the year, the Federal Open Market Committee maintained the target range for the federal funds rate at 3.50 per cent to 3.75 per cent.

“With the sharp spike in crude oil prices, the ringgit is likely to weaken today, with the US dollar/ringgit pair potentially attempting to breach RM3.96,” Mohd Afzanizam told Bernama.

At the opening, the ringgit was traded mixed against a basket of major currencies, and against its ASEAN peers.

It rose slightly against the Japanese yen to 2.4700/4744 from 2.4709/4739 on Wednesday, but weakened against the British pound to 5.3381/3469 from 5.3330/3391 and slipped against the euro to 4.6236/6312 from 4.6197/6250.

It edged down against the Singapore dollar to 3.0905/0659 from 3.0909/0946 at Wednesday’s close, but strengthened against the Thai baht to 12.0765/1022 from 12.0791/0980.

The ringgit eased against the Indonesian rupiah to 228.3/228.8 from 227.9/228.3 and fell against the Philippine peso to 6.42/6.44 from 6.41/6.42. — Bernama

KUALA LUMPUR, April 28 — The ringgit closed higher against major and regional currencies but was flat against the US dollar today amid cautious sentiments over rising crude oil prices.

At 6pm, the local note stood at 3.9505/9550 against the greenback from 3.9505/9545 at yesterday’s close.

Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the ringgit traded within a narrow range as hopes for a resolution to the Iran conflict waned, pushing crude oil prices higher.

He said West Texas Intermediate (WTI) and Brent crude prices rose by 2.55 per cent and 2.74 per cent to US$98.83 per barrel and US$111.20 per barrel, respectively.

"Investors will also monitor the Federal Open Market Committee (FOMC) as it begins its two-day meeting today,” he told Bernama.

This week will also see a high-stakes sequence of policy decisions from the Bank of Japan, the United States Federal Reserve, the European Central Bank and the Bank of England.

At the close, the ringgit traded higher against a basket of major currencies.

It appreciated against the euro to 4.6189/6242 from 4.6387/6434 at the close on Monday, strengthened versus the Japanese yen to 2.4756/4785 from 2.4810/4837 yesterday, and rose against the British pound to 5.3292/3353 from 5.3525/3580 previously.

At the same time, the local currency also strengthened against regional peers.

It advanced against the Singapore dollar to 3.0943/0983 from 3.1018/1052 at Monday’s close and jumped against the Thai baht to 12.1494/1685 from 12.2129/2309 yesterday.

It had also gained against the Indonesian rupiah to 229.1/229.4 from 229.5/229.8 yesterday, and appreciated against the Philippine peso to 6.44/6.46 from 6.50/6.51 previously. — Bernama

KUALA LUMPUR, April 28 — The ringgit traded mostly higher against other major and Asian currencies in early trade today amid cautious sentiment in the currency market.

The domestic unit, however, was little changed against the US dollar as investors adopted a wait-and-see stance ahead of the Federal Open Market Committee’s (FOMC) third meeting of the year, an analyst said.

At 8.18 am, the local currency stood at 3.9505/9550 against the greenback, compared with 3.9505/9545 at Monday’s close.

Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the ringgit was expected to trade within a narrow range today amid cautious market sentiment.

“Traders and investors will be observing the latest assessment by the FOMC members when they conclude their two-day meeting on April 29,” he told Bernama.

At the opening, the ringgit appreciated against a basket of major currencies.

It rose against the British pound to 5.3482/3543 from 5.3525/3580 at Monday’s close, was higher against the Japanese yen to 2.4791/4821 from Monday’s  2.4810/4837, and eased against the euro to 4.6316/6368 from Monday’s 4.6387/6434.

The local currency traded mostly higher against Asean peers.

It went up against the Singapore dollar to 3.1011/1051 from 3.1018/1052 at Monday’s close, and rose against the Thai baht to 12.2061/2257 from yesterday’s close of 12.2129/2309.

The domestic unit was flat against the Indonesian rupiah and the Philippine peso at 229.5/229.8 and 6.50/6.51, respectively. — Bernama