Ringgit opens slightly lower against US dollar

Ringgit opens slightly lower against US dollar

The local unit traded at 4.4480/4530 to the greenback from 4.4430/4460.

ringgit-dollar
KUALA LUMPUR: The ringgit retreated from yesterday’s gains to open slightly lower against the US dollar today on renewed concerns over a possible US interest rate rise, dealer said.

At 9.10am, the local unit traded at 4.4480/4530 to the greenback from 4.4430/4460.

A dealer said the US dollar regained some lost ground after Federal Reserve Chair Janet Yellen suggested the central bank was ready to raise overnight interest rates quickly in the coming year.

The ringgit, however, traded higher against a basket of major currencies.

It appreciated against the Singapore dollar to 3.1111/1149 from 3.1267/1301 on Wednesday and strengthened against the British pound to 5.4515/4580 from 5.4724/4784.

The ringgit rose versus the euro to 4.7256/7326 from 4.7513/7563 and improved against the yen at 3.8749/8806 from 3.9228/9265.

Stay current - Follow FMT on WhatsApp, Google news and Telegram

Subscribe to our newsletter and get news delivered to your mailbox.