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Wednesday, August 12th, 2020

Ringgit opens lower on flat trading

by December 27, 2016 General

KUALA LUMPUR, Dec 27 — The ringgit opened slightly lower against the greenback today, post the Christmas holiday, on a lack of impetus coupled with weak crude oil prices, said dealers.

At 9am, the local unit slid to trade at 4.4750/4800 against the US dollar from last Friday’s close of 4.4725/4755.

A dealer said the benchmark Brent Crude oil price was on a minor downtrend at US$55.07 per barrel, while the West Texas Intermediate was on a lower note at US$53.05 per barrel.

“The forex market is expected to be active as traders would want to capitalise on and stretch trading before the year ends,” he said.

The ringgit traded mixed against other major currencies.

It appreciated against the Singapore dollar to 3.0892/0935 from last Friday’s 3.0934/0959, was marginally lower against the yen at 3.8118/8163 from 3.8112/8145 and declined against the British pound to 5.4935/5041 from 5.4904/4946.

However, the local note edged up vis-a-vis the euro to 4.6746/6807 from 4.6751/6800.  — Bernama