Ringgit opens lower against greenback

KUALA LUMPUR,. The ringgit continued its downtrend against the US dollar as investors turned to accumulate more holdings in the greenback after US President Donald Trump said the trade war between Washington and Beijing could end soon.

At 9.08am, the local note was at 4.1930/1970 compared with yesterday’s close of 4.1880/1920.

A dealer said weaknesses in the oil prices also weighed down the ringgit.

At 9.25am, Brent crude declined 1.11 per cent to US$61.43 a barrel.

Overall, the ringgit traded mostly higher against other major currencies.

The local currency strengthened against the euro to 4.5926/5974 from 4.6060/6108 and appreciated against the British pound to 5.1821/1879 from 5.2090/2157 on Wednesday.

It rose against the yen to 3.8932/8973 from 3.9013/9061 but declined against the Singapore dollar to 3.0406/0446 from 3.0401/0434. ­— Bernama

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