KUALA LUMPUR: The ringgit closed lower against the US dollar today on profit-taking.
At 5pm, the ringgit fell to 3.1550/1580 against the greenback from 3.1530/1560 last Friday.
In a note today, Kenanga Research said the ringgit would continue to see volatility in the near term on the back of mixed results coming from the US and uncertainties in the Europe and the possibility of another stimulus in Japan, following its weak second quarter economic growth.
"However, the ringgit continues to be backed by strong fundamentals, as already proven by several factors including the better-than-expected gross domestic product growth and low external debt," it added.
Kenanga Research kept its year-end forecast for the ringgit at 3.21-level against the US dollar.
The local unit was traded lower against other major currencies.
It eased against the Singapore dollar at 2.5339/5367 from 2.5333/5376 last Friday and fell against the yen at 3.0783/0825 from 3.0743/0778 last week.
The ringgit depreciated against the euro to 4.2230/2273 from 4.2197/2243 on Friday and decreased to 5.2783/2840 against the British pound from 5.2636/2699 previously.-- Bernama