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Forex: Ringgit Opens Lower Against US Dollar

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KUALA LUMPUR – The ringgit opened lower against the US dollar today on profit-taking activities following yesterday’s sharp gain, a dealer said.

At 9.04 am, the local unit was quoted at 4.1930/2000 to the greenback from Tuesday’s 4.1620/1680.

The dealer said the downtrend of the local currency was also in tandem with weaker global market following weak Chinese factories data.

China’s Purchasing Managers’ Index for the manufacturing sector fell to 49.7 in August from 50.0 in July.

The ringgit was also traded lower against a basket of major currencies.

It declined against the Singapore dollar to 2.9679/9749 from 2.9526/9588 on Tuesday and was lower versus the yen at 3.4831/4898 from 3.4741/4800 yesterday.

It depreciated against the pound sterling at 6.4153/4281 from Tuesday’s 6.3803/3920 and fell against the euro to 4.7226/7309 from 4.6927/6003 previously.


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