Ringgit Opens Easier Against US Dollar

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KUALA LUMPUR, Jun 27 – The ringgit continued to open easier against the US dollar today following the surprise vote by Britain to exit the European Union (EU), dealers said. At 9.02am, the local unit was quoted at 4.1250/1350 against the US dollar from 4.0850/0950 last Friday.

A dealer said traders were clueless as to what would happen next, after Britain voted to exit the EU. A dealer said this has also spurred demand for safe-haven assets and a further decline in oil prices amid the global economic uncertainty. The ringgit opened mixed against other major currencies.

It fell against the Singapore dollar to 3.0318/0411 from 3.0148/0246 last Friday and decreased against the yen to 4.0299/0436 from 3.9668/9777 previously. However, the local unit was firmer against the British pound at 5.5234/5384 from 5.6806/6961 and strengthened versus the euro to 4.5404/5543 from 4.5450/5573 previously. — Bernama

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