FOREX: Ringgit Opens Lower Against US Dollar

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KUALA LUMPUR, Feb 3 – The ringgit opened lower against the US dollar Wednesday as the continued fall in global crude oil prices dampened sentiment the local note, dealers said. At 9 am, the local unit was traded at 4.2325/2375 from 4.2050/2100 against the greenback on Tuesday. A dealer said the price of the benchmark Brent crude slipped back below US$34 from almost hitting US$36 a barrel earlier this week. 

The ringgit was traded lower against other major currencies. It fell against the Singapore dollar to 2.9585/9637 from 2.9488/9540 on Tuesday and dipped against the yen to 3.5365/5422 from 3.4847/4897 yesterday. The local note depreciated against the British pound to 6.0944/1028 from 6.0375/0464 yesterday and fell against the euro to 4.6240/6299 from 4.5893/5965 on Tuesday.

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