Ringgit slips against US dollar at opening

At 9.10am, the ringgit was quoted at 4.1320/1350 against the greenback from 4.1290/1320 recorded yesterday. — Reuters pic
At 9.10am, the ringgit was quoted at 4.1320/1350 against the greenback from 4.1290/1320 recorded yesterday. — Reuters pic

KUALA LUMPUR, Nov 6 ― The ringgit slipped at the opening today on lack of demand for the local currency amid the lower crude oil price, said a dealer.

At 9.10am, the ringgit was quoted at 4.1320/1350 against the greenback from 4.1290/1320 recorded yesterday.

The crude oil price is currently trading at US$62.75 per barrel, down by 0.33 per cent.

The dealer said the firmer US dollar was moved by the US consideration to remove some tariffs it imposed on Chinese goods as a concession into securing phase one trade deal with China.

President Donald Trump is expected to sign the interim trade deal this month.

Against a basket of other currencies, the ringgit traded higher.

It rose versus the Japanese yen to 3.7894/7929 from 3.7929/7960 on yesterday’s close and was marginally higher against the Singapore dollar at 3.0400/0434 from 3.0443/0476.

The local note increased against the British pound to 5.3220/3263 from 5.3248/3290 and strengthened to 4.5741/5779 from 4.5952/5989 vis-a-vis the euro. ― Bernama

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