KUALA LUMPUR: The ringgit opened lower against the US dollar in the early session today, despite an unexpected increase in exports for June, a dealer said.
At 9.02am, the ringgit was quoted at 3.8850/8880 against the greenback from 3.8760/8790 at 5pm yesterday.
The country’s June exports unexpectedly increased five per cent from a year earlier as shipments to China increased.
The dealer said the currency came under pressure after investors shifted their buying interest to the greenback as declining commodity prices and domestic political developments hurt investors confidence further.
The ringgit traded lower against most other major currencies.
It depreciated against the Singapore dollar to 2.8087/8113 from 2.7986/7027 yesterday, but was higher against the yen at 3.1127/1156 from 3.1160/1092 previously.
The ringgit eased against the pound sterling to 6.0664/0727 from 6.0392/0458 on Wednesday and declined against the euro to 4.2393/2434 from 4.2082/2122 previously. --BERNAMA