Ringgit closes lower against US dollar

The ringgit closed lower against the US dollar today as uncertainties over China's economic growth and financial market stability continued to prevail.

At 5 pm, the local unit ended lower at 4.3965/3035 from 4.3870/3930 against the US dollar on Thursday.

An analyst said weak oil prices in the global market also continued to weigh on the local note.

The benchmark Brent Crude oil price was traded at US$30.54 per barrel.

The ringgit was traded mostly lower against other emerging currencies.

It traded lower against the Singapore dollar at 3.0483/0544 from 3.0470/0532 on Thursday and eased against the yen to 3.7458/7524 from 3.7266/7321.

It rose against the British pound to 6.3121/3230 from 6.3204/3308 andweakened against the euro to 4.7917/7011 from 4.7875/7950.