KUALA LUMPUR: The ringgit opened lower against the US dollar this morning on better demand for the greenback.
At 9.06am, the ringgit traded at 4.2300/2330 against the US dollar, from 4.2290/2320 at 6pm on Thursday.
A dealer said investors’ interest shifted towards the greenback following the US central bank's comments that economic activity has been on the rise at a solid rate, despite hurricane-related disruptions, coupled with rising expectations of an interest rate hike in December.
Against a basket of major currencies, the ringgit was traded mostly lower, except vis a vis the British pound, against which it rose to 5.5227/5279 from 5.5967/6032 yesterday.
Against the Singapore dollar, the ringgit fell to 3.1119/1152 from 3.1089/1115 on Thursday, declined against the yen to 3.7122/7154 from 3.7083/7113, and was lower at 4.9313/9365 from 4.9226/9273 compared with the euro yesterday. -- Bernama