FOREX: Ringgit Lower US Dollar
KUALA LUMPUR, Feb 28 (Bernama) -- The ringgit closed lower against the US dollar and most major currencies Wednesday as market players continued to buy the greenback to fulfil the commercial demand, dealers said. At the close, the ringgit was quoted at 3.5000/5020 compared with 3.4935/4965 Tuesday. Dealers said the ringgit's current movements were influenced by the recent Bank Negara Malaysia's decition to maintain its overnight policy rate at 3.5 percent. Against the Singapore dollar, the ringgit depreciated to 2.2893/2929 compared with 2.2881/2916 Tuesday and against the yen it fell to 2.9559/9590 from 2.9212/9245 previously. The local unit strengthened against the British pound to close at 6.8452/8521 compared with 6.8637/8717 Tuesday. It declined against the euro to close at 4.6206/6256 from 4.6170/6220 previously.
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