Friday, 29 July 2016

Ringgit opens slightly lower against dollar

The ringgit retreated from yesterday's gains to open slightly lower against the US dollar as investors returned to safe-haven currencies after the US Federal Reserve opted to maintain its interest rates level.

At 9 am, the local unit was quoted at 4.0530/0600 against the US dollar from 4.0470/0520 on Thursday.
The local unit was also traded lower against a basket of major currencies.

It fell against the British pound to 5.3398/3527 from 5.3335/3422 yesterday.

The ringgit weakened against the Singapore dollar to 3.0004/0061 from 2.9973/3.0015 on Thursday.

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