Ringgit opens slightly lower against US dollar

Absence of buying support pushes the ringgit lower against the US dollar at opening of trade. — Reuters pic
Absence of buying support pushes the ringgit lower against the US dollar at opening of trade. — Reuters pic

KUALA LUMPUR, Sept 12 — The ringgit opened marginally lower against the US dollar today on lack of buying demand for the local note, a dealer said.

At 9am, the ringgit weakened to 4.1500/1530 against the greenback from 4.1435/1465 last Friday.

The market was closed on Monday and yesterday in conjunction with King’s birthday and Awal Muharram.

The dealer said low demand for the ringgit was due to the strengthening US dollar, as emerging markets continued to face economic turbulence.

Meanwhile, the ringgit traded mixed against other major currencies.

It depreciated against the Singapore dollar to 3.0149/0173 from 3.0139/0163 on Friday and inched up against the yen to 3.7200/7237 from 3.7406/7444.

It rose against the euro to 4.8119/8171 from 4.8210/8257 and eased against the British pound to 5.4025/4068 from 5.3725/3768. — Bernama

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