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Ringgit Lower Against US$ Early Tuesday

in Latest/Slider

KUALA LUMPUR: The ringgit opened lower against the US dollar Tuesday on technical profit-taking activities, a dealer said.

At 9 am(0100gmt), the local unit slid against the greenback at 4.4590/4650 from 4.4550/4600 on Monday.

The dealer said sentiment is still positive for the ringgit on expectations of better risk appetite, with fresh buying interest from foreign funds on Bursa Malaysia, expected to lend support.
He added that traders also stayed on the sidelines to await the outcome of tomorrow’s meeting of the Organisation of Petroleum Exporting Countries (Opec).

Meanwhile, the ringgit was mixed against other major currencies.

It traded lower against the Singapore dollar at 3.1300/1360 from 3.1285/1325 and declined against the yen from 3.9745/9827 to 3.9653/9701.

However, the ringgit was higher against the euro at 4.7270/7342 from 4.7334/7392 and appreciated against the British pound at 5.5278/5370 from 5.5576/5652.

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