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FOREX: Ringgit Opens Lower Against Dollar

in Latest/Slider

KUALA LUMPUR: The ringgit opened lower against the US dollar Wednesday morning, on lack of demand and amid a stronger greenback.

At 9.01 am, the local unit was quoted at 4.0640/0690 against the US dollar from 4.0550/0610 at 5 pm yesterday.

A dealer said the market is also still clueless on whether the Federal Reserve would raise interest rates in July.

The local note also traded lower against a basket of major currencies.

It fell against the Singapore dollar to 3.0048/0105 from Tuesday’s close of 2.9959/0024, weakened against the yen to 3.7964/8017 from 3.7633/7700 and declined against the euro to 4.6179/6252 from 4.6073/6157.

However, the ringgit appreciated vis-a-vis the British pound to 5.9119/9200 from 5.9175/9270 on Tuesday.

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