KUALA LUMPUR – The ringgit opened lower this morning below the 4.26 level against the US dollar on the low risk appetite for the domestic currency amid China’s sluggish market sentiment, dealers said.
At 9.01am, the ringgit was quoted at 4.2610/2660 against the greenback from 4.2475/0415 at 5pm yesterday.
“Concerns over China’s sluggish economy which was slowing faster than anticipated continued to weigh on markets worldwide,” he said.
The ringgit was lower against a basket of major currencies.
It depreciated against the Singapore dollar to 3.0222/0275 from 3.0143/0229 on Monday and was lower against the yen at 3.5831/5879 from 3.5295/5390 yesterday.
The local unit eased against the pound sterling to 6.7158/7262 from 6.6876/7042 and declined against the euro to 4.9330/9396 from 4.8826/8950 on Monday. â€“ Bernama