Ringgit opens lower against all major currencies

 Publish date: Tue, 13 Oct 2020, 9:44 AM

KUALA LUMPUR: The ringgit continued its slide against the US dollar in early trade today in line with most regional peers, including the yuan, said an analyst.
At 9am, the local currency stood at 4.1500/1600 versus the greenback, compared with 4.1420/1500 at yesterday's close.
Axi chief global market strategist Stephen Innes said the market will be on yuan watch today after the Chinese currency surged higher at Monday's close against the greenback.
"(Meanwhile), oil prices remain supported by the broader market where hopes for stimulus resonate, which would provide room for the local note," he told Bernama. 
At 9.17am today, the price of Brent crude oil stood at US$41.68 per barrel.
The ringgit was also traded lower against other major currencies.
It eased against the Singapore dollar to 3.0530/0651 from Monday's close of 3.0519/0580, and decreased against the British pound to 5.4137/4280 from 5.3950/4070 yesterday.
The local currency declined against the euro to 4.8958/9092 from 4.8884/8982, and depreciated versus the yen to 3.9385/9491 from 3.9257/9336 previously.
 - Bernama


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