Sept 11: Ringgit opens lower against US dollar

 Publish date: Mon, 11 Sep 2017, 03:14 AM

KUALA LUMPUR: The ringgit opened lower against the US dollar today on lack of buying interest for the local currency.

At 9.05am, the local unit was quoted at 4.1990/2020 against the greenback, from Friday's close of 4.1920/197.

A dealer said investors shifted interest towards the greenback after the US Federal Reserve indicated that an interest rate increase is still on the cards this year.

"However, we expect to see stronger buying demand for the ringgit later today, as traders track higher oil prices," the dealer said.

The local note was traded mostly higher against a basket of other major currencies.

It advanced against the Singapore dollar to 3.1250/1286 from Friday's close of 3.1342/1398, and appreciated against the yen to 3.8733/8771 from 3.8919/8977 previously. It weakened against the British pound to 5.5364/5412 from Friday's 5.5129/5203, and strengthened against the Euro to 5.0438/0491 from 5.0551/0624 previously. -- Bernama

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