Ringgit opens lower against US dollar after heavy outflow last week

The ringgit opened slightly lower against the US dollar today. — Reuters pic
The ringgit opened slightly lower against the US dollar today. — Reuters pic

KUALA LUMPUR, Nov 11 — The ringgit opened slightly lower against the US dollar today following a significant outflow of foreign investors recorded last week, dealers said.

At 9.05am, the ringgit was quoted at 4.1380/1420 versus the US dollar against 4.1310/1360 on Friday.

MIDF Amanah Investment Bank Bhd analyst Adam Mohamed Rahim said foreign investors pulled about RM193.1 million from Bursa on Friday, the largest foreign net outflow in more than a month.

“Sentiment was dragged by a report that some White House officials opposed the lowering of tariffs (on China) to gain a partial trade deal,” he said in a research note today.

The local note was also traded mostly lower against other major currencies.

The ringgit eased against the Singapore dollar to 3.0415/0449 from Friday’s close of 3.0377/0418 and depreciated against the yen to 3.7925/7972 from 3.7774/7830. 

It decreased against the British pound to 5.2942/2997 from 5.2906/2986 but appreciated versus the euro to 4.5588/5649 from 4.5594/5666. — Bernama

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