Ringgit opens slightly lower against US dollar

Ringgit opens slightly lower against US dollar

KUALA LUMPUR,. The ringgit was slightly lower at opening against the US dollar today, pending market participants, a dealer said.

At 9am, the local note was quoted at 4.0100/0130 versus the greenback from 4.0010/0040 recorded at last Friday’s closing.

The dealer, said however, he expects the ringgit to receive some buying support from today, following positive sentiment surrounding the announcement of a new Bank Negara Malaysia Governor in Datuk Nor Shamsiah Mohd Yunus, effective July 1.

“The market was happy with this welcome announcement as it suggests a status quo policy,” he added.

Meanwhile, the ringgit traded mixed against other major currencies.

Against the Singapore dollar, it rose to 2.9461/9494 from 2.9484/9511 and vis-a-vis the British pound, improved to 5.3161/3204 from 5.3189/3245.

The ringgit depreciated against the yen to 3.6581/6618 from 3.6323/6360 and compared with the euro, weakened to 4.6733/6784 from 4.6644/6683.

— Bernama