The ringgit opened marginally lower against the US dollar today, although weaker US dollar sentiment and firmer oil prices provided some support for the local currency.
The ringgit eased to 4.0840/0885 against the US dollar at 8am from Tuesday’s close of 4.0835/0880.
Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the US Dollar Index (DXY) had declined 0.33% to 101.833 points while Brent crude prices remained around US$100 per barrel, supporting the ringgit.
He also noted that global equities were positive on optimism over corporate earnings, pointing to stronger sentiment across financial markets.
“On that note, improved risk appetite among traders is providing support to the ringgit today,” he told Bernama.
Against major currencies, the ringgit weakened against the British pound to 5.4174/4234 from 5.4066/4125 at Tuesday’s close and slipped against the euro to 4.5949/6000 from 4.5907/5957.
However, it strengthened against the Japanese yen to 2.5794/5824 from 2.5807/5837.
The local note also traded mostly lower against regional currencies, falling against the Thai baht to 12.1439/1627 from 12.1424/1609 and the Singapore dollar to 3.1956/1994 from 3.1935/1975.
It was unchanged against the Philippine peso at 6.50/6.51 and was almost flat against the Indonesian rupiah at 228.1/228.5.
