KUALA LUMPUR: The ringgit opened lower against the greenback Monday as demand shifted to it on upbeat US economic data released last Friday.
At 9.08 am(0108GMT), the local unit was quoted at 4.0380/0440 against the greenback from last Friday’s close of 4.0210/0280.
A dealer said the stronger greenback was contributed by US retail sales, which rose 1.3 per cent in April, hinting at a recovery in the world’s largest economy.
The local note also traded lower against other major currencies.
It eased against the Singapore dollar to 2.9389/9452 from last Friday’s close of 2.9331/9391, and fell against the euro to 4.5658/5742 from 4.5642/5738.
The ringgit softened against the yen to 3.7114/7179 from 3.6988/7063, and weakened slightly against the British pound to 5.7965/8072 from 5.7963/8080.