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Ringgit Opens Lower On Weak Buying Interest

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KUALA LUMPUR – The ringgit opened lower against the US dollar due to weak buying interest for the local currency, amid unfavourable external developments.

At 9.22 am, the local note was quoted at 3.7105/7135 against the greenback from Tuesday’s close of 3.7020/7050.

A dealer said buying interest for emerging Asian currencies, including the local note, were weak given investors’ appetite which was inclined towards the US dollar.

Meanwhile, the local note was traded mostly lower against other major currencies.

It depreciated to 2.6793/6816 against the Singapore dollar from yesterday’s 2.6679/6708 and fell to 5.5965/6026 against the British pound from 5.5689/5749 recorded on Tuesday.

The ringgit weakened to 3.0582/0614 against the yen from 3.0369/0406 but rose sharply against the euro to 3.9728/9772 from 3.9822/9866 yesterday. – Bernama

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