KUALA LUMPUR, June 15 — The ringgit was slightly lower against the US dollar at opening this morning with demand yet to pick up.
At 9.02am, the ringgit was quoted at 3.7590/7620 from 3.7580/7610 recorded on Friday.
A dealer said the ringgit could stage an uptrend today as the greenback retreated from gains on a bearish outlook for the US economy, which is growing slower-than-expected and remained shaky.
“The much-anticipated increase in interest rates by the Federal Reserve is already reflected in the dollar’s current value and there is little else likely to drive the currency in the near-term,” he added.
Against other major currencies, the ringgit also traded easier, in depreciating against the Singapore dollar to 2.7917/7943 from 2.7806/7843 last week and weakened versus the yen to 3.0440/0476, down from 3.0368/0399.
The local unit fell vis-a-vis the euro to 4.2180/2221 from 4.1962/1007 and declined against the pound to 5.8449/8510 from 5.8166/8235 previously. — Bernama
