Monday, 18 July 2016
KUALA LUMPUR: The ringgit opened lower against a rejuvenated US dollar Monday, a dealer said.
At 9.01 am(0101gmt), the local unit was quoted at 3.9770/9830 versus the greenback from 3.9450/9500 at 6pm on Friday.
FXTM research analyst Lukman Otunuga said the US Consumer Price Index report provided support and offered clarity on the health of the US economy, as well as promote optimism over a potential US rate increase before year-end.
The ringgit was traded mostly lower against a basket of major currencies.
Versus the Singapore dollar, the local currency fell to 2.9496/9563 from 2.9335/9381 and against the yen it eased to 3.7715/7775 from 3.7242/7306.
Vis-a-vis the British pound, the ringgit rose to 5.2655/2767 from 5.2918/2009 while against the euro, it fell to 4.3974/4056 from 3935/3007 on Friday.
Source by: The Star Online