Ringgit opens lower against US dollar

ringgit-dollar

KUALA LUMPUR: The ringgit opened lower against the US dollar this morning on improved buying interest for the greenback amid higher global oil prices, dealers said.

At 9am, the local unit was quoted at 4.1910/1940 against the US dollar from 4.1900/1930 at 6pm on Tuesday.

A dealer said the US dollar gained as investors awaited monetary policy news after the conclusion of the US Federal Reserve’s two-day meeting.

It was also reported that the US dollar received a boost following US Treasury yields which rose to a one-month high.

Another dealer said higher crude oil prices, however, helped offset losses on the local note.

The benchmark Brent crude was trading 0.42% higher at US$55.37 per barrel.

Against other major currencies, the ringgit was traded lower.

It declined against the Singapore dollar to 3.1095/1127 from 3.1053/1087 on Tuesday and vis-a-vis the yen, it eased to 3.7564/7601 from 3.7535/7565.

The local note slipped versus the British pound to 5.6625/6669 from 5.6540/6597 and fell against the euro to 5.0254/0303 from 5.0217/0257 on Tuesday.