Ringgit opens easier against US dollar

Ringgit opens easier against US dollar

KUALA LUMPUR,. The ringgit opens easier against the US dollar today in tandem with the decline in global crude oil prices.

At 9.02 am, the local unit decreased marginally to 4.3550/3650 versus the greenback from 4.3530/3630 at yesterday’s close.

The international benchmark Brent Crude went below US$20 a barrel on concerns about ample storage and the global economy.

Brent Crude was trading 0.6 per cent lower at US$19.87 as mounting concerns over scarce storage capacity especially in the United States and global economic doldrums brought about by Covid-19 pandemic.

Rakuten Trade Sdn Bhd said the research firm find it rather uneasy as the US remains the apex contributor to the global Covid-19 figures.

At the opening, the local unit however, traded mostly higher against other major currencies.

It depreciated against the Singapore dollar to 3.0673/0759 from 3.0672/0754 at Monday’s close but strengthened against yen to 4.0591/0688 from 4.0610/0715.

Vis-a-vis the pound, the ringgit rose to 5.4120/4261 from 5.4121/4254 while against the euro, it improved o 4.7169/7290 from 4.7221/7347 yesterday. — Bernama

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