KUALA LUMPUR: The ringgit was lower against the US dollar in early trade today on weaker demand for the local note, as market sentiment towards the ringgit weakened following lower global oil price.
At 9.41am, the ringgit was traded at 4.1790/1830 against the greenback from 4.1730/1760 at yesterday’s close.
A dealer said the decline in global oil price hampered buying sentiment for the local note and this would have an unfavourable impact towards the country’s oil and gas revenue.
“The global benchmark Brent crude futures fell 10 cents to settle at US$60.82 a barrel,” he added.
Meanwhile, the ringgit was also traded lower against a basket of major currencies.
The local currency declined against the Singapore dollar at 3.0624/0658 from 3.0596/0623 and was lower against the yen at 3.8491/8539 from 3.8270/8305 previously.
It depreciated against the British pound to 5.4302/4371 from 5.4191/4246 yesterday and decreased against the euro to 4.6299/6348 from 4.6249/6287.