KUALA LUMPUR, March 29 — The ringgit opened slightly lower against the US dollar today on lack of demand.
At 9am, the local unit traded at 4.0770/0820 against the greenback from 4.0760/0800 recorded yesterday.
A dealer said low demand for the ringgit was due to the strengthening US dollar, as emerging markets continued to face a slowdown in economic growth.
“Overall global market sentiment is still sluggish amid higher crude oil prices,” he added.
As at 9.15am, the benchmark Brent crude was 0.37 per cent higher at US$67.35 (RM274.65 ) per barrel.
Meanwhile, the ringgit traded mostly higher against a basket of other major currencies.
It declined against the Singapore dollar to 3.0075/0117 from yesterday’s close of 3.0055/0100, but rose against the British pound to 5.3229/3315 from 5.3542/3607.
The ringgit strengthened against the Japanese yen to 3.6766/6821 from 3.6937/6983 and improved versus the euro to 4.5793/5853 from 4.5871/5937. — Bernama
