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Ringgit opens lower against US dollar

Wednesday, 2 November 2016


ringgit forex

KUALA LUMPUR: The ringgit opened lower against the US dollar and a basket of major currencies today on the back of lower crude oil prices, dealers said.      

At 9 am, the ringgit was quoted at 4.1850/1930 against the greenback from  4.1790/1840 on Tuesday.

Brent Crude was down 22 cents to US$47.92.

It was reported that oil prices fell to one-month low following a trade group’s report of a larger-than-expected United States (US) crude inventory, which added to worries of oversupply.

The weakening ringgit was also due to the political uncertainties in the US ahead of the Presidential election, next week.

The local note depreciated against the Singapore dollar to 3.0104/0165 from Tuesday’s 3.0056/0105 and fell against the yen to 4.0213/0294 from 3.9823/9874.

The ringgit slid against the British pound to 5.1216/1335 from 5.1151/1233 and eased against the euro to 4.6253/6354 from 4.5940/5007.

Source by: Internet

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