KUALA LUMPUR: The ringgit ended lower against the greenback yesterday ahead of a decision on US interest rates and as the war between Israel and Iran continued to escalate.

At 6pm, the local note stood at 4.2500/2550 versus the greenback compared with the day-before close of 4.2390/2475.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the key indicator to watch is the “dot plot” of the US Federal Reserve (Fed) funds rate, which essentially reflects the near-term outlook for US monetary policy.

The Fed dot plot is a chart used by the US Federal Open Market Committee to show the individual interest rate forecasts of its members.

The ringgit moved within a tight range between RM4.2425 and RM4.2515 yesterday. — Bernama