Malaysia: Ringgit slips against US$ early Monday

Malaysia: Ringgit slips against US$ early Monday

Monday, 22 August 2016 – The ringgit opened lower against the US dollar on Monday on declining oil prices and a rebound in the 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 88 cents to US$50.43 a barrel 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. Read More?