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Ringgit opens marginally lower versus US dollar

 | August 11, 2017

The local unit stood at 4.2920/2970 against the greenback compared with Thursday's close of 4.2870/2910.

ringgit-dollar

KUALA LUMPUR: The ringgit opened slightly lower against the US dollar today on subdued demand ahead of the release of US inflation data slated to be released today.

At 9.06 am, the local unit stood at 4.2920/2970 against the greenback compared with Thursday’s close of 4.2870/2910.

The local note’s decline today was in line with other Asian emerging currencies weighed down by the US-North Korea geopolitical risk tension, which had interrupted investors’ buying momentum, contributing to the decrease in Asian currencies market.

“However, the US dollar remained steady against major currencies as traders are focusing on US inflation data due Friday given their possible impact on the Federal Reserve’s monetary policy for further market direction,” he said.

Against other currencies, the local note was mostly lower.

It eased against the Singapore dollar to 3.1503/1545 from 3.1455/1496 yesterday, and depreciated against the yen to 3.9354/9408 from 3.9040/9087 on Thursday.

The ringgit decreased against the euro to 5.0525/0597 from 5.0321/0385 yesterday and rose to 5.5719/5797 from 5.5765/5834 on Thursday compared with the British pound.


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