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Ringgit opens lower against US dollar

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Kuala Lumpur
– The ringgit opened easier against the US dollar today on subdued demand for the local currency, as investors eye the release of key US inflation data today.

At 9am, the local unit was quoted at 4.1960/2000 against the greenback from Wednesday’s close of 4.1900/1940.

A dealer said US inflation data could give an indication of US Federal Reserve’s interest rate plan.

The local note was traded higher against a basket of other major currencies.

It advanced against the Singapore dollar to 3.1054/1095 from yesterday’s close of 3.1127/1166 and appreciated against the yen to 3.7949/7988 from 3.8063/8106 previously.

The local unit rose against the British pound to 5.5408/5474 from yesterday’s 5.5580/5650 and strengthened against the euro to 4.9857/9913 from 5.0158/0219 previously. – Bernama