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Ringgit sharply lower on crude price weakness

by September 2, 2016 General

KUALA LUMPUR : The ringgit opened sharply lower against the US dollar today, riding on bearish overnight crude oil prices and ahead of the release of the US non-farm payrolls data later today, said a dealer.  

At 9.03 am, the ringgit was quoted at 4.0880/0930 against the greenback from 4.0740/0790 on Tuesday.

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

It fell against the Japanese yen to 3.9563/9630 from 3.9324/9384 on Thursday and depreciated against the Singapore dollar at 3.0057/0096 from 2.9879/9918.    

The ringgit also declined against the British pound to 5.4264/4351 from  5.3964/3043 and slid against the euro to 4.5773/5846 from 4.5388/5460.