KUALA LUMPUR – The ringgit stumbled a bit overnight and opened slightly lower this morning versus the US dollar as concerns on lockdown and slower Covid-19 vaccine distribution emerged, a dealer said.
At 9am, the local currency eased to 4.0120/0180 versus the greenback from yesterday’s close of 4.0040/0090.
Adding to the sentiment, he said uncertain outlook for the oil sector has affected the performance of the local currency.
“The oil market toppled head over heels with broader markets as the sum of all fears for oil market concerns centres around lockdown consternation.
“All the while, the Organisation of the Petroleum Exporting Countries is doing their best to hold prices in check, emphasising the need for continued cooperation and vigilance in the face of the uncertain outlook.”
The ringgit was traded mostly higher against other major currencies, except the Singapore dollar.
It appreciated vis-a-vis the Japanese yen to 3.8906/8968 from 3.8968/0021 yesterday, rose versus the euro to 4.9171/9261 from 4.9213/9291, and strengthened against the British pound to 5.4455/4540 from 5.4743/4827.
However, the local note slipped against the Singapore dollar to 3.0403/0460 from 3.0402/0450 at yesterday’s close. – Bernama, January 5, 2021
