KUALA LUMPUR: The ringgit opened lower against the US dollar today as the greenback firmed on an increase in sentiment over a possible interest rates hike by the Federal Reserve (Fed), a dealer said.
At 9.05 am, the local unit was quoted at 4.1740/1800 against the US dollar from Wednesday’s close of 4.1590/1650.
A dealer said the local currency was also dampened by negative sentiment brought on by weaker oil prices following uncertainty over the ability of oil producing countries to cut production .
The ringgit also traded lower against other major currencies in early trade today, except for the Japanese yen.
It fell against the Singapore dollar to 2.9988/0035 from 2.9936/9983 on Wednesday, slipped against the British pound at 5.1015/1105 from 5.0777/0867 and declined against the euro to 4.5505/5575 from 4.5429/5507. The ringgit was higher against the yen at 3.9916/9992 from 3.9929/9990. -- Bernama