Forex: ringgit closes lower against us dollar

The ringgit closed lower against the US dollar in a quiet market today as most players adopted a wait-and-see attitude ahead of Bank Negara Malaysia's Monetary Policy Committee meeting tomorrow. Dealers said the central bank was likely to reduce the overnight policy rate (OPR). At 5pm, the ringgit was quoted at 3.0580/0620 per US dollar compared with 3.0415/0445 on Friday. Against other major currencies, the ringgit also weakened at closing. The local unit eased against the Singapore dollar to 2.4274/4325 from 2.4187/4230 and declined against the yen to 3.9870/9943 from 3.9408/9462. The ringgit fell against the British pound to 4.7904/7975 from 4.7736/7793 and slipped against the euro to 4.0197/0262 from 3.9835/9880.