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FOREX: Ringgit Continues Downtrend At Opening

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KUALA LUMPUR: The ringgit continued its downtrend against the US dollar today, weighed on by weaker oil prices, dealers said.

At 9 am, the ringgit was quoted at 4.1190/1250 to the US dollar from 4.1010/1070 at yesterday’s closing.

The global benchmark, Brent Crude, was down 73 cents or 1.81 per cent to US$39.66 per barrel yesterday, after gaining four per cent last week.

Meanwhile, the ringgit was mostly weaker against other major currencies.

It was lower against the Singapore dollar at 2.9880/9941 from 2.9825/9884 on Monday and weakened against the yen to 3.6157/6219 from 3.6107/6163.

However, the local unit appreciated against the British pound at 5.8786/8893 from yesterday’s 5.8812/8915, but eased against the euro to 4.5709/5792 from 4.5574/5658.


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