Ringgit Lower Against US Dollar

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KUALA LUMPUR, Jan 16 –  The ringgit opened marginally lower against the greenback this morning due to lack of buying support, a dealer said. At 9.00 am, the ringgit was quoted at 3.5740/5770 against 3.5590/5620 at 5.00 pm on Thursday.

The ringgit pulled up yesterday from a near six-year low earlier this week. but was vulnerable to declining oil prices as Malaysia was the only net oil exporting country in Asean. The local note was traded lower against other major currencies.

It depreciated against the Singapore dollar to 2.6935/6968 from Thursday’s 2.6735/6778 and weakened against the yen to 3.0704/0733 from 3.0261/9299 yesterday. However, the ringgit rose against the euro to 4.1512/1554 from Thursday’s 4.1850/2889 but eased against the British pound to 5.4282/4342 from 5.4150/3203 yesterday.

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