KUALA LUMPUR (Nov 30): The ringgit closed lower on Thursday, snapping three consecutive days of gains on profit-taking after the local note touched the immediate support level of RM4.6611 against the US dollar.

At 6pm, the ringgit fell to 4.6590/6635 against the greenback from Wednesday’s close of 4.6495/6550.

Bank Muamalat Malaysia chief economist Mohd Afzanizam Abdul Rashid said the local note is struggling to maintain its appreciation bias after piercing the immediate support level.

“Profit-taking activities appear to seep in whenever it hit the immediate support level,” he told Bernama.

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