Ringgit opens weaker on cautious sentiment

The local note was also traded lower against other major currencies. — Reuters pic
The local note was also traded lower against other major currencies. — Reuters pic

KUALA LUMPUR, Nov 14 — The ringgit continued to open lower today on cautious sentiment ahead of the country’s third-quarter gross domestic product (GDP) data release tomorrow.

At 9.25am, the ringgit was quoted at 4.1550/1590 versus the US dollar against 4.1520/1550 yesterday.

A dealer said investors took the wait-and-see approach following news that the third-quarter GDP is expected to moderate amid statistics suggesting slower domestic demand and supply.

“The expectation is following the weaker September Producer Price Index (PPI) which casts concerns over the country’s economic growth,” he said.

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

The ringgit decreased against the Singapore dollar to 3.0482/0523 from yesterday's close of 3.0464/0498 and depreciated against the yen to 3.8179/8226 8 from 3.8123/815.

It eased against the British pound to 5.3379/3435 from 5.3357/3413 and declined versus the euro to 4.5726/5774 from 4.5726/5776. — Bernama

Related Articles