Ringgit opens marginally lower against US dollar


KUALA LUMPUR: The ringgit opened marginally lower against a rejuvenated US dollar today, said a dealer.

At 9.06 am, the local unit was quoted at 4.0040/0090 against the dollar from yesterday’s close of 4.0020/0070.

The dealer said the greenback rose after a US Federal Reserve official commented that an interest rate increase this year is appropriate following improving labour market conditions and the likelihood that inflation is heading higher.

The local note however was traded higher against other major currencies.

It firmed up against the Singapore dollar to 2.9741/9800 from Thursday’s 2.9781/9836 and gained against the yen to 3.9186/9254 from 3.9464/9528.

The ringgit also strengthened against the British pound to 5.1888/1977 from yesterday’s 5.1894/1983 and improved against the euro to 4.4581/4652 from 4.4598/4670.