Ringgit opens slightly higher against US dollar

November 2, 2018 | By | Reply More

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KUALA LUMPUR: The ringgit opened slightly higher against the greenback today, as traders remained optimistic, ahead of the 2019 Budget announcement scheduled for this afternoon, dealers said.

At 9 am, the local unit stood at 4.1720/1760 versus the US dollar from 4.1770/1820 on Thursday.

A dealer said oil prices continued falling today, amid signs of rising supply and growing concerns that demand might weaken on the prospect of a global economic slowdown.

At 9 am, the benchmark Brent crude was recorded at US$72.58 per barrel.

The ringgit, meanwhile, traded lower against other major currencies.

It dipped against the Singapore dollar to 3.0296/0329 from 3.0270/0318 on Thursday and depreciated against the euro to 4.7548/7606 from 4.7530/7595.

The ringgit slid against the British pound to 5.4203/4275 from 5.3908/3977 and declined against the Japanese yen to 3.6986/7031 from 3.6968/6015. — Bernama

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