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FOREX: Ringgit Opens Lower Against Greenback In Early Trade

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KUALA LUMPUR: The ringgit slid further against the US dollar in early trade Thursday, with traders anxious over China’s economic health, dealers said.

At 9 am, the ringgit was quoted lower at 4.4100/4180 against the US dollar from Wednesday’s 4.3890/3960.

A dealer said an abrupt drop in oil prices forced investors into a defensive mode as they shifted from commodities-based currencies to low-risk currencies.

The ringgit also declined against other major currencies.

It opened lower against the Singapore dollar at 3.0710/0783 from yesterday’s 3.0590/0645 and fell against the British pound to 6.4532/4662 from 6.4224/4335.

The ringgit weakened against the yen to 3.7152/7236 from 3.7019/7081 and against the euro, it fell to 4.7522/7613 from 4.7116/7200.



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