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Ringgit Dips Against US Dollar Early Monday

in Latest/Slider

KUALA LUMPUR: The ringgit opened lower against the US dollar on Monday as oil prices continued their downtrend in the global market on worries over higher US crude inventories, dealers said.

At 9am, the ringgit was quoted at 4.2040/2090 against the greenback from 4.1970/1020 on Friday.

At the opening, Brent crude was lower at US$45.88 a barrel.

He said Hillary Clinton’s chances of being elected US President has improved and this helped the US dollar.

“Clinton is likely to maintain a policy that prevents a strong dollar if she is elected,” he said.

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

The local note eased against the Singapore dollar to 3.0312/0359 from 3.0288/0333 on Friday and increased against the yen to 4.0431/0487 from 4.0759/0820 previously.

The ringgit was traded lower against the British pound at 5.2470/2549 from Friday’s 5.2370/2445 and slipped against the euro to 4.6669/6741 from 4.6583/6642 previously. – Bernama

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