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Stronger US Dollar Drags Ringgit Lower

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KUALA LUMPUR – The ringgit opened lower against the US dollar today, dragged
down by strong sentiment for the greenback, said a dealer.

At 9.10 am, the local unit was quoted at 4.1950/2050 against the dollar
from last Friday’s close of 4.1700/1800.

The dealer said the greenback rose following the stronger-than-expected US
inflation and jobless claims data released last week.

The ringgit also traded easier against other major currencies.

It fell against the Singapore dollar to 3.0295/0390 from 3.0124/0215 on
Friday and depreciated versus the yen to 3.5152/5250 from 3.4995/5094.

The local note weakened vis-a-vis the pound sterling to 6.4750/4921 from
6.4435/4610 and declined against the euro to 4.7706/7828 from 4.7371/7497


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