RM opens slightly lower against USD

 Publish date: Wed, 20 May 2020, 10:19 AM

KUALA LUMPUR: The ringgit opened slightly lower against the US dollar, on renewed concerns over the potential COVID-19 vaccine despite a healthy sentiment on the regional financial market, dealers said.
As at 9.02 am, the local note was quoted at 4.3450/3550 compared with yesterday's close of 4.3440/3510.
A dealer said the head of the World Health Organisation (WHO) vowed on Tuesday to continue to lead the global fight against the COVID-19 pandemic after the US President Donald Trump had threatened to cut off funding and to quit the international body if it did not alter its procedures within 30 days.
Meanwhile, Indian buyers have resumed purchases of Malaysian palm oil after a four-month gap following a diplomatic row, with buying spurred by a fall in domestic inventories and discounted prices, trade sources said.
Against other major currencies, the ringgit was also traded lower.
The local currency slipped against the Singapore dollar to 3.0685/0764 from 3.0648/0706 on Tuesday and declined versus the Japanese yen to 4.0625/0361 from 4.0387/0456.
The ringgit, meanwhile, was lower against the euro at 4.7530/7652 from 4.7179/7283 and edged lower against the British pound to 5.3291/3431 from 5.3166/3269 previously.
 - Bernama


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