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Ringgit opens easier against US dollar

 | May 18, 2017

The local note was quoted at 4.3250/3300 against the greenback from 4.3210/3250 as at 6 pm Wednesday.

ringgit-dollarKUALA LUMPUR: The ringgit opened easier against the US dollar this morning as investors continued to book profits after the recent gains amid the weakening sentiment for the greenback, dealers said.

At 9 am, the local note was quoted at 4.3250/3300 against the US dollar from 4.3210/3250 as at 6 pm Wednesday.

A dealer said the US dollar was heavily under pressure on mounting investors’ concern over the stability of President Donald Trump’s administration.

Meanwhile, the ringgit was traded broadly lower against a basket of other major currencies.

It fell against the Singapore dollar to 3.1095/1135 from 3.0977/1026 on Wednesday and weakened versus the Japanese yen to 3.9020/9076 from yesterday’s 3.8450/8489.

The local unit depreciated against the British pound to 5.6117/6186 from 5.5927/5996 and contracted vis-a-vis the euro to 4.8315/8375 from 4.7941/7990 yesterday.

 


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