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FOREX: Ringgit Opens Lower Against Dollar

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KUALA LUMPUR: The ringgit opened lower against the US dollar Friday on subdued sentiment amid optimism of an interest rate hike in the US this year.

At 9.18 am, the ringgit was quoted at 4.2940/3010 versus the greenback from 4.2920/2970 at 5 pm on Thursday.

A dealer said a recent comment from US Federal Reserve Chair Janet Yellen hinted at a possible interest rate hike in December should US economic data continue to point to growth and firmer prices turn investors’ interest to the world’s largest economy.

The local note was traded mixed against other major currencies.

It appreciated against the Singapore dollar to 3.0532/0601 from Thursday’s 3.0542/0584 but eased against the yen to 3.5272/5344 from 3.5264/5311.

The ringgit strengthened against the British pound to 6.5307/5440 from 6.6023/6131 but weakened against the euro to 4.6736/6816 from 4.6706/6773.


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