Last updated Saturday, October 01, 2016 2:46 pm GMT+8

Friday September 23, 2016
06:44 PM GMT+8

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A money changer counts ringgit at a shop in Putrajaya, outside Kuala Lumpur. — Reuters picA money changer counts ringgit at a shop in Putrajaya, outside Kuala Lumpur. — Reuters picKUALA LUMPUR, Sept 23 — The ringgit extended its earlier losses to end slightly weaker against the US dollar today on continued technical correction after its recent gains, a dealer said.

At 6pm, the ringgit was quoted at 4.1100/1170 against the greenback from 4.1060/1110 yesterday.

However, the outlook for the ringgit remained bullish as the US Federal Reserve (Fed) trimmed the longer-term rate view during its two-day meeting.

He said the Fed also projected a less aggressive rise in rates next year and in 2018, and cut its longer-run interest rate forecast to 2.9 per cent from 3.0 per cent.

Meanwhile, the ringgit was traded higher against a basket of major currencies.

The ringgit strengthened against the euro to 4.6085/6168 from 4.6114/6187 yesterday and rose against the Singapore dollar to 3.0256/0319 from 3.0303/0362 on Thursday.

It strengthened against the British pound to 5.3475/3587 from 5.3665/3735 yesterday and appreciated against the yen to 4.0721/0795 from 4.0750/0816 previously. — Bernama

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