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Ringgit opens marginally lower against US dollar

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by September 19, 2017 General

At 9am, the ringgit was quoted at 4.1880/1920 against the US dollar from 4.1870/1900 yesterday. — AFP picAt 9am, the ringgit was quoted at 4.1880/1920 against the US dollar from 4.1870/1900 yesterday. — AFP picKUALA LUMPUR, Sept 19 ― The ringgit opened marginally lower against the US dollar as the greenback strengthened ahead of the US Federal Open Market Committee (FOMC) meeting this week, dealers said.

At 9am, the local unit was quoted at 4.1880/1920 against the US dollar from 4.1870/1900 yesterday.

A dealer said investors awaited clues from the meeting on the US monetary policy on, while tensions over North Korea eased.

“Forecasters say the US Federal Reserve would leave interest rates unchanged and stick to plans to raise it in December,” said one dealer, adding that investors would also closely monitor United Kingdom Prime Minister Theresa May’s Brexit speech scheduled for Friday.

However, higher global oil prices helped offset the decline in the local note against the dollar.

The benchmark Brent crude were trading 0.02 per cent higher at US$55.49 (RM232.40) per barrel.

Against other major currencies, the ringgit  traded mostly higher, except versus the euro, which fell to 5.0105/0157 from 5.0035/0087 on Monday.

It marginally rose against the Singapore dollar to 3.1096/1137 from 3.1098/1132 yesterday and vis-a-vis the yen, it went up to 3.7574/7620  from 3.7619/7656 yesterday.

The local note improved versus the British pound to 5.6618/6684 from 5.6717/6775 yesterday. ― Bernama

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