Ringgit opens slightly lower against US dollar on coronavirus concern

At 9.20am, the ringgit was quoted at 4.0800/0840 against the greenback compared with 4.0590/0650 on Friday. ― Reuters pic
At 9.20am, the ringgit was quoted at 4.0800/0840 against the greenback compared with 4.0590/0650 on Friday. ― Reuters pic

KUALA LUMPUR, Jan 28 ― The ringgit retreated slightly from last week's gain to open moderately lower today, as concerns over the spread of deadly coronavirus kept investors out from the riskier assets including ringgit, dealers said.

At 9.20am, the ringgit was quoted at 4.0800/0840 against the greenback compared with 4.0590/0650 on Friday.

Investors according to a dealer were inclined towards the traditional safe-haven currencies such as the Japanese yen and the Swiss franc.

The ringgit was also traded lower against other major currencies.

The local currency went down to 3.0049/0189 against the Singapore dollar from 3.0024/0080 on Friday and depreciated vis-a-vis the Japanese yen to 3.7448/7495 versus 3.7038/7103 last week.

The local currency also slipped against the euro to 4.4966/5026 compared with 4.4787/4869 on Friday and weakened against the British pound to 5.3301/3357 from 5.3140/3235 previously. ― Bernama

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