Ringgit closes lower against US dollar on West Asian conflict concerns
The Malaysian ringgit closed lower against the US dollar on Wednesday, weakening to 4.0670/0720 from 4.0605/0640 the previous day. An economist attributed the decline to cautious market sentiment amid the ongoing US-Israel-Iran conflict, which has pushed Brent crude oil prices above $100 per barrel and raised concerns about higher inflation and tighter monetary policy.