KUALA LUMPUR, Sept 3 ― The ringgit fell against the US dollar in the early trading today on weaker demand, in line with the declining global oil price.
At 9.04am, the ringgit was at 4.2200/2250 against the greenback from 4.2030/2080 last Friday.
A dealer said oil prices fell after the new import tariffs imposed by the United States and China came into effect on Sunday.
“This stirs up uncertainty in the market as it can potentially affect global economic growth as well as demand for crude,” he added.
The international benchmark Brent crude futures fell 59 cents to US$58.66 (RM247.85) a barrel while the West Texas Intermediate crude declined 33 cents to US$54.77 a barrel.
Meanwhile, the ringgit was traded mixed against other major currencies.
The local currency was lower against the Singapore dollar at 3.0294/0341 from 3.0281/0319 and eased against the yen to 3.9695/9753 from 3.9487/9545.
However, it rose versus the euro to 4.6179/6238 from 4.6393/6465 and gained against the British pound to 5.0851/0920 from 5.1230/1308. ― Bernama
