KUALA LUMPUR, March 16 — The ringgit opened lower for the third consecutive day dampened by weaker oil price, dealers said.

At 9am, the ringgit was quoted at 4.1400/1450 versus the US dollar from 4.1315/1355 yesterday.

A dealer said oil price continued to retreat after a month-long rally as oversupply issue resurfaced.

He said Brent crude, the global benchmark, fell 79 cents, or two per cent, to US$38.74 (RM160.54) a barrel yesterday.

Meanwhile, the ringgit was mixed against other major currencies.

It was lower against the Singapore dollar at 2.9980/0025 from yesterday’s 2.9958/0002 but strengthened against the yen to 3.6537/6591 from 3.6555/6601 yesterday.

The local unit appreciated against the British pound to 5.8552/8635 from yesterday’s 5.8800/8869 but eased against the euro to 4.5983/6043 from 4.5897/5958 yesterday. — Bernama