The ringgit closed lower against the US dollar Monday on lack of demand for the local currency, dealers said.

At 5pm, the local currency was quoted at 3.1500/1550, down against the US dollar from last Friday's 3.1480/1510 close.

A dealer said most players in the market are reacting to external factors.

The ringgit was traded lower against the Singapore dollar at 2.3931/3989 from 2.3882/3923 on Friday and also against the yen at 3.7531/7604 from 3.7522/7572 previously.