KUALA LUMPUR: The ringgit ended lower against the US dollar for the third consecutive day on the back of declining oil prices and strengthening greenback, according to an analyst. As of 6pm yesterday, the local currency declined to 4.3880/3910 versus the US dollar from Wednesday’s close of 4.3805/3850. OANDA Asia Pacific senior market analyst Jeffrey Halley said oil prices fell in Asia yesterday following reports that Saudi Arabia would increase its oil production if Russian output fell substantially. At the time of writing, the benchmark Brent crude oil price fell 2.27% to US$113.7 (RM499.26) barrel. The local note appreciated against the Singapore dollar to 3.1901/1928 from yesterday’s close of 3.1928/1965 and increased vis-a-vis the Japanese yen to 3.3803/3829 from 3.3865/3903.
