Ringgit Ends Lower Against US Dollar

KUALA LUMPUR, Nov 23 (Bernama) -- The ringgit extended earlier losses to end lower against the US dollar Wednesday as more investors shifted interest towards safe-haven currencies, a dealer said. At 6 pm, the local unit was traded at 4.4400/4450 against the greenback from 4.4170/4250 on Tuesday. A dealer said that most of the Asian currencies were weakened against the greenback as better US home resales data in October provided extra support to the currency. Investors were also concerned over the reversing gains in the oil prices, as doubts re-emerged over whether the Organisation of the Petroleum Exporting Countries would agree to a crude oil production cut during the ministerial meeting next week. The local unit was traded mostly lower against other major currencies. It was lower against the Singapore dollar at 3.1136/1175 from 3.1042/1103 on Tuesday but strengthened against the British pound to 5.4945/5011 from 5.5102/5220 Tuesday. The ringgit slipped against the yen to 3.9993/4.0049 from Tuesday's 3.9875/9955 and fell against the euro to 4.7117/7175 from 4.7023/7117 previously. -- BERNAMA