Ringgit opens lower against greenback

ringgit-dollar

KUALA LUMPUR: The ringgit fell away from a two-day high in opening lower today on the back of a lack of buying interest, with the slight decline in global oil prices also dampening sentiment for the local note, dealers said.

At 9.00 am, the local unit was quoted at 3.9930/9970 against the greenback from yesterday’s close of 3.9830/9880.

A dealer said investors took profit after the recent rally in oil prices which hit a five week-high and uncertainty over plans by oil producers to freeze supply dragging down market sentiment.

The local note also traded mostly lower against other major currencies.

It eased against the Singapore dollar at 2.9761/9813 from yesterday’s 2.9748/9803, but gained against the yen at 3.9692/9743 from 3.9794/9856.

The ringgit depreciated against the British pound to 5.2069/2149 from 5.1707/1788 and slid against the euro to 4.5033/5094 from 4.4888/4961.