Ringgit opened lower against USD Monday

Aug 22, 2016


The ringgit opened lower against the US dollar today on declining oil prices and a rebounded US dollar, said a dealer.

At 9.15 am, it was quoted at 4.0220/0270 to the greenback from 4.0105/0165 last Friday.

The benchmark Brent Crude fell 0.88 cents to US$50.43 a barrel today on oversupply of crude for August, the dealer said.

A news report said the US dollar recovered on Friday after the Federal Reserve Bank of San Francisco President John Williams said a rate increase in September should be in play.

The ringgit traded mostly higher against other major currencies.

It rose against the British pound to 5.2527/2621 from 5.2698/2793 on Friday but eased against the euro to 4.5428/5501 from 4.5375/5455.

The local note rose against the yen to 4.0000/0062 from 4.0017/0093 and went higher against the Singapore dollar to 2.9762/9821 from 2.9776/9834.

Source: Bernama