Malaysia: Ringgit opens lower against US$ Thursday

• Dec 15, 2016

The ringgit weakened against the US dollar, in early trade Thursday, weighed by poor sentiment in the market, a dealer said.

At 9 am(0100gmt), the ringgit was traded at 4.4600/4650 versus the US dollar from 4.4440/4480 on Wednesday.

A dealer said the US Federal Reserve (Fed) raised interest rates by 25 basis points, shifting attention to the US and and the greenback which appreciated against a basket of currencies. 

“Gold hit its lowest level in more than 10 months,” he added.

Against the Singapore dollar, the ringgit rose to 3.0931/0981 from 3.1190/1223 and versus the yen, it advanced to 3.7883/7929 from 3.8580/8618 on Wednesday. 

Versus the British pound, the local currency appreciated to 5.5844/5924 from 5.6239/6307 and rose against the euro to 4.6763/6838 from 4.7218/7269 yesterday.

Source: http://www.thestar.com.my/business/business-news/2016/12/15/ringgit-opens-lower-against-us$-thursday/