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Ringgit Opens Sharply Lower Against US$ Early Thursday

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KUALA LUMPUR: The ringgit opened sharply lower against the US dollar on Thursday ahead of the release of the US non-farm jobs data on Friday, a dealer said.

At 9.03am, the ringgit was quoted at 4.0740/0790 against the greenback from 4.0510/0600 on Tuesday.

The market was closed on Wednesday for the Merdeka Day celebration.

The dealer said the release of the US non-farm jobs data on Friday would reinforce the timing of the US interest hike, which is widely expected at the US Federal Reserve’s next policy meeting on Sept 20-21.

The local currency was also traded mostly lower against a basket of major currencies.

The ringgit went up against the Japanese yen at 3.9477/9537 from 3.9588/9687 on Tuesday but declined against the Singapore dollar at 2.9894/9953 against 2.9754/9829.

It also fell against the British pound to 5.3496/3590 from Tuesday’s 5.2983/2109 and depreciated against the euro to 4.5445/5518 from 4.5246/5362. – Bernama

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