Ringgit opens lower against US dollar


KUALA LUMPUR: The ringgit opened lower against the US dollar today on mild profit-taking following yesterday’s gains.

At 9.03 am, the local note stood at 4.4070/4120 against the greenback from 4.4030/4060 at 6pm yesterday.

A dealer said the overnight decline in global crude oil prices also dampened investors’ interest towards the local note, as this would likely diminish the country’s oil and gas revenue.

International benchmark Brent Crude Futures shed 18 cents to US$55.71 a barrel at the close last night while US West Texas Intermediate declined 23 cents to US$52.95 a barrel.

Meanwhile, the ringgit today was traded mixed against major currencies.

The local note rose against the Singapore dollar to 3.1521/1566 from 3.1542/1575 on Monday and was higher against the yen at 4.0387/0444 from 4.0648/0687 yesterday.

The ringgit weakened against the euro to 4.6895/6966 from 4.6782/6818 and depreciated against the British pound to 5.5352/5437 from 5.5244/5300 on Monday.