Ringgit marginally lower in early session

Malaysian ringgit notes in various denominations.

KUALA LUMPUR: The ringgit was marginally lower against the US dollar in early session today on lack of demand for the local note, dealers said.

At 9am, the ringgit was quoted at 4.0770/0820 compared to 4.0760/0810 recorded yesterday.

A dealer said that this was due to profit-taking on the ringgit following its recent rally when it touched a six-month high of 4.0640/0700 on Wednesday.

“The investors now shifting their interest to the greenback after the release of the US Federal Reserve (Fed) meeting minutes yesterday,” he said.

Meanwhile, the local unit was higher against a basket of currencies except the euro.

The local unit appreciated against the British pound to 5.3172/3242 from 5.3249/3335 and was higher against the Japanese yen at 3.6813/6868 from 3.6817/6869 on Thursday.

It improved against the Singapore dollar to 3.0111/0152 versus 3.0121/0163 but eased versus the euro to 4.6229/6294 from yesterday’s close of 4.6153/6230.